Short Interest in Asanko Gold Declines By 2.6% (AKG)
Asanko Gold (NYSE:AKG) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 1,071,961 shares, a decrease of 2.6% from the July 31st total of 1,101,029 shares, ARN reports. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 98,926 shares, the days-to-cover ratio is currently 10.8 days.
A number of analysts have recently weighed in on AKG shares. 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 given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $3.33.
Shares of Asanko Gold (NYSE:AKG) opened at 2.26 on Friday. Asanko Gold has a one year low of $1.55 and a one year high of $2.98. The stock’s 50-day moving average is $2.47 and its 200-day moving average is $2.23. The company’s market cap is $391.1 million.
Asanko Gold Inc is a natural resource company engaged in the acquisition and exploration of mineral resources in West Ghana.
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