Short Interest in Asanko Gold Grows By 10.0% (AKG)
Shares of Asanko Gold (NYSE:AKG) were the target of a large increase in short interest during the month of May. As of May 30th, there was short interest totalling 962,193 shares, an increase of 10.0% from the May 15th total of 874,687 shares, American Banking & Market News reports. Based on an average daily volume of 117,475 shares, the short-interest ratio is presently 8.2 days. Currently, 0.6% of the company’s stock are short sold.
Separately, analysts at Raymond James initiated coverage on shares of Asanko Gold in a research note on Wednesday, May 21st. They set an “outperform” rating and a C$3.75 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Asanko Gold currently has an average rating of “Buy” and a consensus target price of $3.38.
Asanko Gold (NYSE:AKG) traded up 5.24% during mid-day trading on Tuesday, hitting $2.01. The stock had a trading volume of 94,453 shares. Asanko Gold has a 52-week low of $1.55 and a 52-week high of $3.23. The stock has a 50-day moving average of $1.98 and a 200-day moving average of $1.97. The company’s market cap is $346.2 million.
Asanko Gold Inc formerly Keegan Resources Inc (NYSE:AKG) is a natural resource company engaged in the acquisition and exploration of mineral resources in West Ghana.
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