Asanko Gold Short Interest Up 16.7% in June (AKG)
Shares of Asanko Gold (NYSE:AKG) were the recipient of a large increase in short interest during the month of June. As of June 13th, there was short interest totalling 1,122,882 shares, an increase of 16.7% from the May 30th total of 962,193 shares, American Banking & Market News reports. Based on an average daily trading volume, of 166,410 shares, the short-interest ratio is currently 6.7 days. Approximately 0.7% of the company’s shares are short sold.
Several analysts have recently commented on the stock. Analysts at CIBC raised their price target on shares of Asanko Gold from C$3.00 to C$3.25 in a research note on Thursday, June 19th. 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $3.35.
Shares of Asanko Gold (NYSE:AKG) opened at 2.28 on Wednesday. Asanko Gold has a one year low of $1.55 and a one year high of $3.23. The stock has a 50-day moving average of $2.03 and a 200-day moving average of $1.99. The company’s market cap is $392.7 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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