Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) was the recipient of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 1,712,321 shares, a decline of 39.4% from the December 15th total of 2,825,863 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,748,058 shares, the days-to-cover ratio is currently 1.0 days.
Shares of Asanko Gold (AKG) opened at $0.83 on Friday. The firm has a market capitalization of $169.06, a PE ratio of 41.30 and a beta of 0.07. Asanko Gold has a one year low of $0.43 and a one year high of $3.90.
Institutional investors have recently bought and sold shares of the business. AGF Investments Inc. grew its stake in Asanko Gold by 13.3% during the 3rd quarter. AGF Investments Inc. now owns 5,864,934 shares of the basic materials company’s stock valued at $5,546,000 after purchasing an additional 686,467 shares during the last quarter. Donald Smith & CO. Inc. grew its stake in Asanko Gold by 20.7% during the 3rd quarter. Donald Smith & CO. Inc. now owns 20,273,390 shares of the basic materials company’s stock valued at $19,327,000 after purchasing an additional 3,475,819 shares during the last quarter. Franklin Resources Inc. grew its stake in Asanko Gold by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 4,220,000 shares of the basic materials company’s stock valued at $6,479,000 after purchasing an additional 370,000 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Asanko Gold during the 2nd quarter valued at about $735,000. Finally, Goldman Sachs Group Inc. grew its stake in Asanko Gold by 10,524.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,480,761 shares of the basic materials company’s stock valued at $3,796,000 after purchasing an additional 2,457,412 shares during the last quarter.
AKG has been the topic of several research analyst reports. Zacks Investment Research upgraded Asanko Gold from a “sell” rating to a “buy” rating and set a $1.00 target price on the stock in a research note on Wednesday, October 4th. Clarus Securities upgraded Asanko Gold from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Royal Bank of Canada restated a “hold” rating and set a $1.75 target price on shares of Asanko Gold in a research note on Monday, October 23rd. Canaccord Genuity downgraded Asanko Gold from a “buy” rating to a “hold” rating and set a $1.00 target price on the stock. in a research note on Monday, November 20th. Finally, Raymond James Financial restated a “market perform” rating on shares of Asanko Gold in a research note on Tuesday, November 14th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.25.
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Asanko Gold Company Profile
Asanko Gold Inc is a gold producer. The Company has operations in the Republic of Ghana. The Company’s segments include Canada and Ghana. The Company’s principal asset is the Asanko Gold Mine (AGM) located in Ghana, West Africa. The Company’s Project 5M will upgrade the plant’s throughput to five metric tons per annum and expand mining operations to integrate the Esaase deposit, including the construction of a 27-kilometer overland conveyor.
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