Asanko Gold (AKG) Stock Price Down 5.7%

Shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) traded down 5.7% on Friday . The company traded as low as $0.82 and last traded at $0.82. 679,241 shares changed hands during trading, a decline of 7% from the average session volume of 731,855 shares. The stock had previously closed at $0.87.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Asanko Gold by 85.7% during the 4th quarter. Millennium Management LLC now owns 144,700 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 66,796 shares during the last quarter. A.R.T. Advisors LLC boosted its holdings in shares of Asanko Gold by 363.5% in the first quarter. A.R.T. Advisors LLC now owns 126,353 shares of the basic materials company’s stock worth $126,000 after buying an additional 99,090 shares during the last quarter. CIBC World Markets Inc. purchased a new position in shares of Asanko Gold in the first quarter worth approximately $168,000. Acadian Asset Management LLC purchased a new position in shares of Asanko Gold in the second quarter worth approximately $302,000. Finally, Canada Pension Plan Investment Board boosted its holdings 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 worth $2,144,000 after buying an additional 806,300 shares during the last quarter.

Asanko Gold Company Profile (NYSEAMERICAN:AKG)

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: Moving Average (MA)

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