Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Expands By 16.8%

Galiano Gold Inc. (NYSEAMERICAN:GAU) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,460,000 shares, an increase of 16.8% from the January 15th total of 1,250,000 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average trading volume of 698,800 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On Galiano Gold

Institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Advisers LP raised its position in shares of Galiano Gold by 11.4% in the fourth quarter. Two Sigma Advisers LP now owns 155,800 shares of the company’s stock worth $192,000 after buying an additional 16,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Galiano Gold by 0.6% in the 4th quarter. Renaissance Technologies LLC now owns 2,741,253 shares of the company’s stock valued at $3,372,000 after acquiring an additional 16,677 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Galiano Gold during the 3rd quarter valued at about $33,000. HighTower Advisors LLC purchased a new position in shares of Galiano Gold during the third quarter worth about $36,000. Finally, Sprott Inc. bought a new position in shares of Galiano Gold in the fourth quarter worth approximately $39,000. 66.82% of the stock is owned by institutional investors.

Galiano Gold Stock Down 4.5 %

Shares of Galiano Gold stock traded down $0.06 during mid-day trading on Monday, hitting $1.26. 805,067 shares of the stock were exchanged, compared to its average volume of 929,639. Galiano Gold has a 12 month low of $0.81 and a 12 month high of $2.00. The stock has a market cap of $324.02 million, a P/E ratio of -63.00 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets lowered shares of Galiano Gold from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Eight Capital raised Galiano Gold to a “strong-buy” rating in a report on Tuesday, November 19th. Finally, HC Wainwright lowered their target price on Galiano Gold from $3.10 to $2.80 and set a “buy” rating for the company in a report on Wednesday, January 29th.

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.