Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Grows By 117.7%

Galiano Gold Inc. (NYSEAMERICAN:GAUGet Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 655,000 shares, a growth of 117.7% from the April 30th total of 300,900 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily trading volume, of 1,430,000 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Trading of Galiano Gold

Several hedge funds and other institutional investors have recently made changes to their positions in GAU. Virtu Financial LLC purchased a new position in Galiano Gold in the 1st quarter worth about $118,000. Sapient Capital LLC bought a new position in Galiano Gold during the first quarter valued at approximately $279,000. Acadian Asset Management LLC lifted its position in Galiano Gold by 172.5% during 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 period. Equinox Partners Investment Management LLC boosted 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 worth $50,300,000 after purchasing an additional 662,500 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Galiano Gold in the 4th quarter worth approximately $1,500,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Galiano Gold Stock Up 1.1 %

Shares of Galiano Gold stock opened at $1.82 on Friday. The stock has a market cap of $461.62 million, a PE ratio of 36.40 and a beta of 1.08. Galiano Gold has a one year low of $0.52 and a one year high of $1.90. The stock has a 50 day moving average of $0.61.

Galiano Gold (NYSEAMERICAN:GAUGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $31.70 million during the quarter. As a group, sell-side analysts forecast that Galiano Gold will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GAU shares. HC Wainwright increased their price target on Galiano Gold from $4.30 to $4.40 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. BMO Capital Markets raised their target price on Galiano Gold from $1.50 to $2.25 and gave the stock an “outperform” rating in a research note on Thursday, March 7th.

Check Out Our Latest Report on Galiano Gold

About Galiano Gold

(Get Free Report)

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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