Galiano Gold Inc. (NYSEAMERICAN:GAU) Sees Large Increase in Short Interest

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 681,900 shares, a growth of 10.2% from the August 15th total of 618,600 shares. Based on an average trading volume of 999,500 shares, the short-interest ratio is presently 0.7 days. Approximately 0.4% of the shares of the company are short sold.

Galiano Gold Stock Down 2.3 %

GAU stock traded down $0.03 during mid-day trading on Wednesday, hitting $1.47. 602,364 shares of the stock were exchanged, compared to its average volume of 1,030,607. Galiano Gold has a 12 month low of $0.52 and a 12 month high of $2.00. The firm has a market cap of $376.39 million, a P/E ratio of 29.19 and a beta of 1.13.

Galiano Gold (NYSEAMERICAN:GAU) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $63.00 million for the quarter. As a group, research analysts expect that Galiano Gold will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Galiano Gold

Several institutional investors have recently added to or reduced their stakes in GAU. Sapient Capital LLC boosted its holdings in Galiano Gold by 15.8% in the second quarter. Sapient Capital LLC now owns 232,244 shares of the company’s stock valued at $399,000 after acquiring an additional 31,744 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of Galiano Gold by 141.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,163 shares of the company’s stock valued at $93,000 after purchasing an additional 31,757 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Galiano Gold during the second quarter valued at about $59,000. Virtu Financial LLC bought a new position in Galiano Gold in the first quarter worth about $118,000. Finally, Acadian Asset Management LLC lifted its holdings in Galiano Gold by 172.5% in the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company’s stock worth $453,000 after buying an additional 208,800 shares during the period. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reduced their price target on Galiano Gold from $4.40 to $4.20 and set a “buy” rating for the company in a research report on Monday, August 12th.

Galiano Gold Company Profile

Galiano Gold Inc engages in the exploration and evaluation of gold properties in Canada. Its flagship asset is the Asanko Gold Mine that covers an area of approximately 21,000 hectares located in Ghana, West Africa. The company was formerly known as Asanko Gold Inc and changed its name to Galiano Gold Inc in May 2020.