Asanko Gold Sees Significant Growth in Short Interest (AKG)
Asanko Gold (NYSE:AKG) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 1,101,029 shares, a growth of 4.6% from the July 15th total of 1,052,874 shares, AmericanBankingNews.com reports. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 108,704 shares, the days-to-cover ratio is presently 10.1 days.
AKG has been the subject of a number of recent research reports. Analysts at Raymond James raised their price target on shares of Asanko Gold from C$3.75 to C$4.00 in a research note on Monday, July 14th. Separately, analysts at Canaccord Genuity cut their price target on shares of Asanko Gold from C$3.30 to C$3.15 in a research note on Friday, July 11th. They now have a “speculative buy” rating on the stock. Finally, 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $3.33.
Shares of Asanko Gold (NYSE:AKG) opened at 2.50 on Tuesday. Asanko Gold has a one year low of $1.55 and a one year high of $3.23. The stock’s 50-day moving average is $2.51 and its 200-day moving average is $2.18. The company’s market cap is $430.5 million.
Asanko Gold Inc is a natural resource company engaged in the acquisition and exploration of mineral resources in West Ghana.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.