Short Interest in Galiano Gold Inc. (NYSEAMERICAN:GAU) Drops By 62.1%

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 1,290,000 shares, a drop of 62.1% from the September 30th total of 3,400,000 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 3,110,000 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 3,110,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.5% of the company’s shares are sold short.

Galiano Gold Stock Performance

Shares of NYSEAMERICAN GAU opened at $2.48 on Wednesday. The stock has a market capitalization of $642.00 million, a PE ratio of -82.64 and a beta of 0.65. The stock’s fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $1.79. Galiano Gold has a 12-month low of $1.00 and a 12-month high of $3.12.

Institutional Trading of Galiano Gold

A number of institutional investors have recently made changes to their positions in GAU. SBI Securities Co. Ltd. boosted its position in shares of Galiano Gold by 939.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock worth $32,000 after purchasing an additional 22,603 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its position in shares of Galiano Gold by 177.0% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock worth $59,000 after purchasing an additional 29,690 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after purchasing an additional 9,558 shares in the last quarter. Sprott Inc. boosted its position in shares of Galiano Gold by 55.9% in the 1st quarter. Sprott Inc. now owns 49,362 shares of the company’s stock worth $61,000 after purchasing an additional 17,700 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Galiano Gold in the 2nd quarter worth $74,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright increased their target price on Galiano Gold from $2.80 to $3.20 and gave the company a “buy” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Galiano Gold presently has a consensus rating of “Buy” and an average target price of $3.20.

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.