Asanko Gold (AKG) Upgraded to “Hold” by Zacks Investment Research

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.

Shares of Asanko Gold (NYSEAMERICAN:AKG) traded up $0.06 on Tuesday, reaching $0.89. The company had a trading volume of 2,483,500 shares, compared to its average volume of 1,381,520. The stock has a market cap of $169.06, a PE ratio of 44.50 and a beta of 0.07. Asanko Gold has a 1 year low of $0.43 and a 1 year high of $3.90.

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.

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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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Analyst Recommendations for Asanko Gold (NYSEAMERICAN:AKG)

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