Asanko Gold Inc. (AKG) Receives Average Rating of “Hold” from Analysts

Shares of Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) have earned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $1.38.

Several brokerages have issued reports on AKG. Zacks Investment Research raised shares of Asanko Gold from a “sell” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research report on Monday, November 20th. Raymond James Financial reissued a “market perform” rating on shares of Asanko Gold in a research report on Tuesday, November 14th. UBS Group downgraded shares of Asanko Gold from an “outperform” rating to a “market perform” rating in a research report on Tuesday, November 14th. Finally, Clarus Securities raised shares of Asanko Gold from a “hold” rating to a “buy” rating in a research report on Monday, November 6th.

Shares of Asanko Gold (NYSEAMERICAN:AKG) traded down $0.02 during trading on Friday, reaching $0.89. 1,422,807 shares of the company’s stock traded hands, compared to its average volume of 1,381,631. Asanko Gold has a 52 week low of $0.43 and a 52 week high of $3.86. The stock has a market cap of $169.06, a P/E ratio of 44.50 and a beta of 0.07.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings data on Friday, November 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. Asanko Gold had a net margin of 9.25% and a return on equity of 4.34%.

Large investors have recently modified their holdings of the company. AGF Investments Inc. boosted its holdings in shares of Asanko Gold by 13.3% in the third quarter. AGF Investments Inc. now owns 5,864,934 shares of the basic materials company’s stock valued at $5,546,000 after acquiring an additional 686,467 shares in the last quarter. Donald Smith & CO. Inc. boosted its holdings in shares of Asanko Gold by 20.7% in the third quarter. Donald Smith & CO. Inc. now owns 20,273,390 shares of the basic materials company’s stock valued at $19,327,000 after acquiring an additional 3,475,819 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Asanko Gold by 9.6% in the second quarter. Franklin Resources Inc. now owns 4,220,000 shares of the basic materials company’s stock valued at $6,479,000 after acquiring an additional 370,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Asanko Gold in the second quarter valued at about $735,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Asanko Gold by 10,524.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,480,761 shares of the basic materials company’s stock valued at $3,796,000 after acquiring an additional 2,457,412 shares in the last quarter.

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About Asanko Gold

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.

Analyst Recommendations for Asanko Gold (NYSEAMERICAN:AKG)

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