Asanko Gold (AKG) Hits New 52-Week Low Following Analyst Downgrade

Shares of Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG) hit a new 52-week low during trading on Tuesday after Royal Bank Of Canada lowered their price target on the stock from C$1.75 to C$1.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Asanko Gold traded as low as C$0.78 and last traded at C$0.80, with a volume of 338633 shares trading hands. The stock had previously closed at C$0.80.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity increased their price target on Asanko Gold from C$2.25 to C$2.50 in a report on Friday, September 29th. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Raymond James Financial cut Asanko Gold from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$3.50 to C$3.00 in a report on Tuesday, November 14th. Finally, BMO Capital Markets reissued a “market perform” rating and set a C$2.00 price target on shares of Asanko Gold in a report on Friday, October 20th. Six analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of C$1.98.

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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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