Short Interest in Asanko Gold Inc (AKG) Rises By 65.8%

Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 509,397 shares, a growth of 65.8% from the August 15th total of 307,213 shares. Based on an average trading volume of 226,930 shares, the days-to-cover ratio is presently 2.2 days.

Shares of AKG traded up $0.07 during mid-day trading on Wednesday, hitting $0.84. The company’s stock had a trading volume of 347,641 shares, compared to its average volume of 749,150. Asanko Gold has a one year low of $0.43 and a one year high of $1.38.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last posted its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $66.82 million during the quarter. Asanko Gold had a return on equity of 4.34% and a net margin of 9.25%.

Several hedge funds and other institutional investors have recently modified their holdings of AKG. Franklin Resources Inc. raised its stake in shares of Asanko Gold by 14.4% in the first quarter. Franklin Resources Inc. now owns 11,368,675 shares of the basic materials company’s stock valued at $11,459,000 after purchasing an additional 1,429,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Asanko Gold by 35.7% in the second quarter. Renaissance Technologies LLC now owns 3,900,100 shares of the basic materials company’s stock valued at $4,173,000 after purchasing an additional 1,026,600 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Asanko Gold by 68.3% in the second quarter. Canada Pension Plan Investment Board now owns 1,986,000 shares of the basic materials company’s stock valued at $2,144,000 after purchasing an additional 806,300 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Asanko Gold by 4.3% in the second quarter. Van ECK Associates Corp now owns 11,414,103 shares of the basic materials company’s stock valued at $12,213,000 after purchasing an additional 475,728 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Asanko Gold by 1.4% in the second quarter. Donald Smith & CO. Inc. now owns 20,415,757 shares of the basic materials company’s stock valued at $21,845,000 after purchasing an additional 284,309 shares in the last quarter.

About Asanko Gold

Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.

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