Brokers Set Expectations for Asanko Gold Inc’s Q1 2018 Earnings (TSE:AKG)
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) – Equities researchers at Cormark dropped their Q1 2018 earnings estimates for shares of Asanko Gold in a note issued to investors on Friday. Cormark analyst T. Breytenbach now expects that the company will post earnings per share of $0.00 for the quarter, down from their previous forecast of $0.03. Cormark also issued estimates for Asanko Gold’s Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $0.00 EPS and Q4 2018 earnings at $0.00 EPS.
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A number of other equities analysts have also commented on the company. Scotiabank reissued an “outperform” rating and set a C$5.75 price target on shares of Asanko Gold in a research note on Thursday, April 27th. Raymond James Financial, Inc. reaffirmed 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 lowered their price objective on Asanko Gold from C$4.50 to C$3.85 in a research note on Friday, May 5th. BMO Capital Markets reaffirmed 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 lowered their price objective 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. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$3.14.
Asanko Gold (TSE AKG) opened at 1.11 on Monday. The stock’s market capitalization is $225.83 million. Asanko Gold has a 52 week low of $0.99 and a 52 week high of $6.09. The firm has a 50-day moving average price of $1.89 and a 200-day moving average price of $3.11.
In related news, insider Trapani Fausto Di acquired 51,835 shares of the stock in a transaction dated Tuesday, June 20th. The stock was acquired at an average cost of C$1.90 per share, with a total value of C$98,486.50. Also, Director Colin Steyn acquired 200,000 shares of the stock in a transaction dated Tuesday, June 20th. The stock was bought at an average cost of C$1.84 per share, with a total value of C$368,000.00. Insiders bought a total of 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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