Asanko Gold Inc (AKG) Short Interest Up 15.7% in September

Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) was the target of a significant growth in short interest during the month of September. As of September 14th, there was short interest totalling 589,245 shares, a growth of 15.7% from the August 31st total of 509,397 shares. Based on an average daily volume of 230,931 shares, the days-to-cover ratio is presently 2.6 days.

A number of hedge funds have recently added to or reduced their stakes in AKG. Franklin Resources Inc. lifted its holdings in shares of Asanko Gold by 14.4% in the 1st quarter. Franklin Resources Inc. now owns 11,368,675 shares of the basic materials company’s stock worth $11,459,000 after acquiring an additional 1,429,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Asanko Gold by 35.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,900,100 shares of the basic materials company’s stock worth $4,173,000 after acquiring an additional 1,026,600 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Asanko Gold by 68.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,986,000 shares of the basic materials company’s stock worth $2,144,000 after acquiring an additional 806,300 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Asanko Gold by 4.3% in the 2nd quarter. Van ECK Associates Corp now owns 11,414,103 shares of the basic materials company’s stock worth $12,213,000 after acquiring an additional 475,728 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in shares of Asanko Gold by 1.4% in the 2nd quarter. Donald Smith & CO. Inc. now owns 20,415,757 shares of the basic materials company’s stock worth $21,845,000 after acquiring an additional 284,309 shares during the last quarter.

AKG stock opened at $0.81 on Thursday. Asanko Gold has a 52 week low of $0.43 and a 52 week high of $1.38.

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

Further Reading: Short Selling

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