Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) was downgraded by equities research analysts at CIBC from a “sector perform” rating to a “sector underperform” rating in a research note issued on Friday, Marketbeat.com reports.

AKG has been the subject of several other research reports. Zacks Investment Research upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research note on Wednesday, July 19th. Clarus Securities reiterated a “buy” rating on shares of Asanko Gold in a research note on Friday, May 5th. ValuEngine upgraded shares of Asanko Gold from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. Finally, BidaskClub upgraded shares of Asanko Gold from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Asanko Gold presently has an average rating of “Hold” and an average price target of $4.75.

Shares of Asanko Gold (NYSEMKT AKG) traded up 1.2363% during mid-day trading on Friday, reaching $0.8762. The company’s stock had a trading volume of 3,772,096 shares. Asanko Gold has a 52 week low of $0.78 and a 52 week high of $4.68. The company’s 50-day moving average is $1.46 and its 200-day moving average is $2.34. The stock’s market capitalization is $178.26 million.

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

WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/06/cibc-lowers-asanko-gold-inc-nysemktakg-to-sector-underperform.html.

A number of large investors have recently made changes to their positions in the stock. 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 last quarter. 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 last quarter. 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 last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Asanko Gold during the second quarter worth approximately $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 last quarter.

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)

Receive News & Ratings for Asanko Gold Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asanko Gold Inc and related companies with MarketBeat.com's FREE daily email newsletter.