Cormark Weighs in on Asanko Gold Inc’s FY2019 Earnings (NYSEAMERICAN:AKG)

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Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) – Cormark lifted their FY2019 EPS estimates for Asanko Gold in a research report issued on Friday, August 16th. Cormark analyst T. Breytenbach now anticipates that the basic materials company will earn $0.01 per share for the year, up from their previous estimate of ($0.01). Cormark also issued estimates for Asanko Gold’s Q4 2019 earnings at $0.00 EPS, Q1 2020 earnings at $0.04 EPS, Q2 2020 earnings at $0.04 EPS, Q3 2020 earnings at $0.04 EPS and Q4 2020 earnings at $0.04 EPS.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The firm had revenue of $85.72 million for the quarter.

AKG has been the topic of several other reports. Zacks Investment Research raised Asanko Gold from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a report on Friday, August 2nd. Scotiabank started coverage on Asanko Gold in a report on Friday, August 16th. They set a “hold” rating on the stock. Finally, HC Wainwright upped their price objective on Asanko Gold from $1.60 to $2.20 and gave the stock a “buy” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.60.

Shares of AKG opened at $0.88 on Monday. Asanko Gold has a 1 year low of $0.50 and a 1 year high of $1.10.

A number of large investors have recently added to or reduced their stakes in AKG. Jane Street Group LLC raised its holdings in 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 period. 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 valued at $262,000 after acquiring an additional 133,005 shares during the last quarter. 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 valued at $12,560,000 after acquiring an additional 246,200 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 valued at $2,032,000 after acquiring an additional 750,127 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Asanko Gold by 63.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 493,800 shares of the basic materials company’s stock valued at $316,000 after acquiring an additional 191,100 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: Real Estate Investment Trust (REIT) ETF

Earnings History and Estimates for Asanko Gold (NYSEAMERICAN:AKG)

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