Asanko Gold Inc (AKG) PT Lowered to C$2.00
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) had its price target reduced by Scotiabank from C$4.00 to C$2.00 in a report released on Friday. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target points to a potential upside of 80.18% from the stock’s previous close.
Several other equities analysts also recently issued reports on the stock. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a C$4.75 price objective on shares of Asanko Gold in a research note on Tuesday, April 18th. CIBC decreased their price objective on shares of Asanko Gold from C$4.50 to C$3.85 in a research note on Friday, May 5th. BMO Capital Markets restated a “market perform” rating and issued a C$3.00 price objective on shares of Asanko Gold in a research note on Tuesday, June 13th. Finally, Royal Bank Of Canada decreased their price objective on shares of Asanko Gold from C$6.00 to C$5.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 12th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Asanko Gold currently has an average rating of “Buy” and a consensus target price of C$3.14.
Shares of Asanko Gold (AKG) remained flat at $1.11 during trading on Friday. The company’s stock had a trading volume of 4,092,219 shares. The firm has a market cap of $225.83 million and a price-to-earnings ratio of 17.08. Asanko Gold has a 52-week low of $0.99 and a 52-week high of $6.09. The firm’s 50-day moving average is $1.89 and its 200-day moving average is $3.11.
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In other news, Director Colin Steyn purchased 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was purchased at an average cost of C$1.84 per share, with a total value of C$368,000.00. Also, Director William Keith Smart purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were purchased at an average cost of C$1.94 per share, with a total value of C$48,500.00. Insiders bought 276,835 shares of company stock valued at $514,987 over the last ninety days.
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.
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