Zacks Investment Research upgraded shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) from a sell rating to a hold rating in a report published on Tuesday.
According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “
AKG has been the topic of a number of other research reports. Canaccord Genuity cut Asanko Gold from a buy rating to a hold rating and set a $1.00 price target on the stock. in a research note on Monday, November 20th. Royal Bank of Canada reissued a hold rating and issued a $1.75 price target on shares of Asanko Gold in a research note on Monday, October 23rd. Clarus Securities raised Asanko Gold from a hold rating to a buy rating in a research note on Monday, November 6th. BidaskClub raised Asanko Gold from a strong sell rating to a sell rating in a research note on Saturday, November 4th. Finally, Raymond James Financial restated a market perform rating on shares of Asanko Gold in a research report on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $1.25.
Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings results on Friday, November 3rd. The basic materials company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Asanko Gold had a return on equity of 4.34% and a net margin of 9.25%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. lifted its holdings in shares of 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 buying an additional 3,475,819 shares during the last quarter. AGF Investments Inc. lifted its holdings in shares of 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 buying an additional 686,467 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 buying an additional 370,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 buying an additional 2,457,412 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Asanko Gold during the 2nd quarter valued at about $735,000.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Ticker Report and is owned by of Ticker Report. If you are accessing this report on another website, it was illegally copied and reposted in violation of United States & international copyright and trademark law. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/3142803/asanko-gold-akg-upgraded-to-hold-by-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Asanko Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asanko Gold and related companies with MarketBeat.com's FREE daily email newsletter.