Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG)‘s stock had its “outperform” rating reaffirmed by investment analysts at Raymond James Financial, Inc. in a research note issued to investors on Friday, Marketbeat Ratings reports.

A number of other research analysts have also issued reports on the company. ValuEngine upgraded Asanko Gold from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. BidaskClub upgraded Asanko Gold from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. Clarus Securities reiterated a “buy” rating on shares of Asanko Gold in a report on Friday, May 5th. Zacks Investment Research upgraded Asanko Gold from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a report on Wednesday, July 19th. Finally, CIBC lowered Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $4.75.

Shares of Asanko Gold (NYSEMKT:AKG) traded up 1.2363% during midday trading on Friday, hitting $0.8762. The company had a trading volume of 3,772,096 shares. The firm’s market capitalization is $178.26 million. Asanko Gold has a 12 month low of $0.78 and a 12 month high of $4.68. The company has a 50-day moving average of $1.46 and a 200 day moving average of $2.34.

Asanko Gold (NYSEMKT:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, May 4th. The basic materials company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. Asanko Gold had a return on equity of 0.64% and a net margin of 2.11%. The business had revenue of $66.05 million during the quarter. On average, analysts expect that Asanko Gold will post $0.11 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in AKG. KCG Holdings Inc. increased its stake in shares of Asanko Gold by 102.8% in the first quarter. KCG Holdings Inc. now owns 106,842 shares of the basic materials company’s stock worth $279,000 after buying an additional 54,148 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Asanko Gold by 303.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 115,590 shares of the basic materials company’s stock worth $302,000 after buying an additional 86,936 shares during the period. Credit Suisse AG increased its stake in shares of Asanko Gold by 7.3% in the first quarter. Credit Suisse AG now owns 152,556 shares of the basic materials company’s stock worth $397,000 after buying an additional 10,377 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Asanko Gold during the second quarter worth about $423,000. Finally, Bank of America Corp DE increased its stake in shares of Asanko Gold by 372.5% in the first quarter. Bank of America Corp DE now owns 243,596 shares of the basic materials company’s stock worth $636,000 after buying an additional 192,037 shares during the period.

Asanko Gold Company Profile

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 (NYSEMKT:AKG)

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