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

Shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) have been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $1.17.

Separately, Zacks Investment Research upgraded shares of Asanko Gold from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th.

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AKG stock opened at $0.95 on Wednesday. Asanko Gold has a twelve month low of $0.43 and a twelve month high of $2.83.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last posted its quarterly earnings results on Thursday, March 15th. The basic materials company reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. The company had revenue of $59.63 million for the quarter. Asanko Gold had a return on equity of 4.34% and a net margin of 9.25%.

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in shares of Asanko Gold by 85.7% in 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 in the last quarter. Franklin Resources Inc. grew its holdings in shares of Asanko Gold by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 9,939,675 shares of the basic materials company’s stock valued at $7,037,000 after acquiring an additional 298,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Asanko Gold by 3,221.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,975,880 shares of the basic materials company’s stock valued at $2,101,000 after acquiring an additional 2,886,280 shares in the last quarter.

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Asanko Gold Company Profile

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.

Analyst Recommendations for Asanko Gold (NYSEAMERICAN:AKG)

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