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

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 925,800 shares, a decrease of 28.8% from the November 15th total of 1,300,000 shares. Based on an average daily volume of 696,100 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the company's stock are sold short.

Galiano Gold Stock Performance

NYSEAMERICAN GAU traded up $0.02 on Friday, reaching $1.33. 423,866 shares of the stock traded hands, compared to its average volume of 948,049. Galiano Gold has a 12 month low of $0.63 and a 12 month high of $2.00. The firm has a market cap of $341.92 million, a P/E ratio of -66.50 and a beta of 1.04.

Wall Street Analysts Forecast Growth

GAU has been the subject of several recent analyst reports. HC Wainwright raised their target price on Galiano Gold from $4.20 to $4.60 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Eight Capital raised Galiano Gold to a "strong-buy" rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. grew its position in Galiano Gold by 33.3% in the third quarter. Donald Smith & CO. Inc. now owns 23,881,323 shares of the company's stock worth $33,911,000 after buying an additional 5,961,685 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Galiano Gold by 43.3% in the 3rd quarter. Van ECK Associates Corp now owns 6,854,000 shares of the company's stock worth $9,733,000 after acquiring an additional 2,070,000 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Galiano Gold by 208.8% in the 2nd quarter. Marshall Wace LLP now owns 1,498,359 shares of the company's stock worth $2,577,000 after acquiring an additional 1,013,141 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Galiano Gold by 186.2% during the second quarter. Acadian Asset Management LLC now owns 944,190 shares of the company's stock worth $1,613,000 after purchasing an additional 614,316 shares during the period. Finally, De Lisle Partners LLP lifted its holdings in shares of Galiano Gold by 14.0% during the third quarter. De Lisle Partners LLP now owns 815,416 shares of the company's stock valued at $1,154,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors own 66.82% of the company's stock.

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.

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