Galiano Gold Inc. (NYSEAMERICAN:GAU) Sees Significant Growth in Short Interest

Galiano Gold Inc. (NYSEAMERICAN:GAU - Get Free Report) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 746,900 shares, a growth of 9.5% from the August 31st total of 681,900 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average trading volume of 955,000 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Galiano Gold

Several hedge funds have recently added to or reduced their stakes in GAU. Equinox Partners Investment Management LLC raised its holdings in Galiano Gold by 1.9% in the first quarter. Equinox Partners Investment Management LLC now owns 36,225,936 shares of the company's stock valued at $50,300,000 after acquiring an additional 662,500 shares in the last quarter. Acadian Asset Management LLC increased its stake in Galiano Gold by 172.5% in the first quarter. Acadian Asset Management LLC now owns 329,874 shares of the company's stock valued at $453,000 after purchasing an additional 208,800 shares during the last quarter. Virtu Financial LLC purchased a new position in Galiano Gold in the first quarter valued at approximately $118,000. Sapient Capital LLC increased its stake 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 purchasing an additional 31,744 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new position in Galiano Gold in the second quarter valued at approximately $8,219,000. Institutional investors and hedge funds own 66.82% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their target price on shares of Galiano Gold from $4.40 to $4.20 and set a "buy" rating for the company in a report on Monday, August 12th.

Galiano Gold Price Performance

NYSEAMERICAN GAU traded up $0.01 during trading hours on Tuesday, reaching $1.43. The company had a trading volume of 601,330 shares, compared to its average volume of 1,013,895. The stock has a market capitalization of $367.40 million, a P/E ratio of 28.80 and a beta of 1.13. Galiano Gold has a 1-year low of $0.52 and a 1-year high of $2.00.

Galiano Gold (NYSEAMERICAN:GAU - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $63.00 million for the quarter. As a group, analysts anticipate that Galiano Gold will post 0.13 EPS for the current year.

About Galiano Gold

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.