Asanko Gold Inc (TSE:AKG) Lifted to “Strong-Buy” at Raymond James Financial, Inc.
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) was upgraded by investment analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating in a research note issued on Friday. The firm currently has a C$3.50 price objective on the stock, down from their previous price objective of C$4.40. Raymond James Financial, Inc.’s target price indicates a potential upside of 215.32% from the company’s previous close.
Several other research firms have also recently weighed in on AKG. Royal Bank Of Canada decreased their price target on 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. Scotiabank reaffirmed an “outperform” rating and issued a C$5.75 price objective on shares of Asanko Gold in a report on Wednesday, April 19th. CIBC cut their price objective on Asanko Gold from C$4.50 to C$3.85 in a report on Friday, May 5th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a C$3.00 price objective on shares of Asanko Gold in a report on Tuesday, June 13th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Asanko Gold has a consensus rating of “Buy” and an average target price of C$3.14.
Asanko Gold (TSE:AKG) remained flat at $1.11 on Friday. The company’s stock had a trading volume of 4,092,219 shares. The company has a market capitalization of $225.83 million and a P/E ratio of 17.08. The company’s 50 day moving average is $1.89 and its 200-day moving average is $3.11. Asanko Gold has a 52-week low of $0.99 and a 52-week high of $6.09.
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In other news, Director Colin Steyn acquired 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was bought at an average price of C$1.84 per share, with a total value of C$368,000.00. Also, Director William Keith Smart acquired 25,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average cost of C$1.94 per share, with a total value of C$48,500.00. Insiders purchased 276,835 shares of company stock valued at $514,987 in the last ninety days.
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.
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