Asanko Gold (NYSEAMERICAN:AKG) Raised to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. The firm currently has $1.00 price objective on the basic materials company’s stock.

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. “

Separately, HC Wainwright set a $2.00 price objective on shares of Asanko Gold and gave the company a buy rating in a research report on Thursday, July 11th.

Shares of Asanko Gold stock opened at $0.89 on Friday. Asanko Gold has a 1 year low of $0.50 and a 1 year high of $1.02.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $85.72 million for the quarter.

Several large investors have recently made changes to their positions in AKG. Jane Street Group LLC grew its position in shares of Asanko Gold by 17.9% during the 4th quarter. Jane Street Group LLC now owns 159,953 shares of the basic materials company’s stock valued at $102,000 after buying an additional 24,240 shares during the last quarter. Millennium Management LLC grew its position in Asanko Gold by 48.0% in the 4th quarter. Millennium Management LLC now owns 409,888 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 133,005 shares during the last quarter. Loews Corp grew its position in Asanko Gold by 30.3% in the 1st quarter. Loews Corp now owns 3,228,506 shares of the basic materials company’s stock worth $2,032,000 after purchasing an additional 750,127 shares during the last quarter. Finally, Ruffer LLP grew its position in Asanko Gold by 1.3% in the 1st quarter. Ruffer LLP now owns 19,722,289 shares of the basic materials company’s stock worth $12,560,000 after purchasing an additional 246,200 shares during the last quarter.

About Asanko Gold

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.

See Also: Diluted Earnings Per Share

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