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

Galiano Gold Inc. (NYSEAMERICAN:GAU) saw a large drop in short interest during 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 shares of the company are sold short. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 3,110,000 shares, the short-interest ratio is currently 0.4 days. Currently, 0.5% of the shares of the company are sold short.

Hedge Funds Weigh In On Galiano Gold

A number of institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Galiano Gold by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock valued at $59,000 after buying an additional 9,558 shares during the last quarter. Sprott Inc. raised its stake in shares of Galiano Gold by 55.9% during the 1st quarter. Sprott Inc. now owns 49,362 shares of the company’s stock valued at $61,000 after buying an additional 17,700 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Galiano Gold by 939.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 25,009 shares of the company’s stock valued at $32,000 after buying an additional 22,603 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its stake in shares of Galiano Gold by 177.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 46,466 shares of the company’s stock valued at $59,000 after buying an additional 29,690 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Galiano Gold during the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Analyst Ratings Changes

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

Galiano Gold Price Performance

Shares of GAU stock opened at $2.48 on Wednesday. The business has a fifty day moving average of $2.46 and a 200 day moving average of $1.79. The firm has a market capitalization of $642.00 million, a price-to-earnings ratio of -82.64 and a beta of 0.65. Galiano Gold has a 1 year low of $1.00 and a 1 year high of $3.12.

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.