Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $1.00 price target on the basic materials company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 3.09% from the stock’s current price.

According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “

AKG has been the subject of several other reports. Scotiabank lowered Asanko Gold from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, August 9th. ValuEngine lowered Asanko Gold from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub upgraded Asanko Gold from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 12th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, CIBC cut Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a research note on Friday, August 4th. Three analysts have rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Shares of Asanko Gold (AKG) traded up 1.04% during trading on Wednesday, reaching $0.97. 464,332 shares of the company traded hands. The stock’s 50 day moving average price is $1.05 and its 200-day moving average price is $1.68. Asanko Gold has a 12 month low of $0.77 and a 12 month high of $4.17. The stock has a market cap of $197.35 million, a P/E ratio of 18.30 and a beta of 1.05.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new stake in shares of Asanko Gold during the 2nd quarter worth approximately $138,000. Royal Bank of Canada raised its stake in shares of Asanko Gold by 37.9% during the 2nd quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 24,758 shares in the last quarter. KCG Holdings Inc. raised its stake in shares of Asanko Gold by 102.8% during the 1st quarter. KCG Holdings Inc. now owns 106,842 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 54,148 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Asanko Gold by 16.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 134,627 shares of the basic materials company’s stock worth $206,000 after purchasing an additional 19,037 shares in the last quarter. Finally, Credit Suisse AG raised its stake in shares of Asanko Gold by 7.3% during the 1st quarter. Credit Suisse AG now owns 152,556 shares of the basic materials company’s stock worth $397,000 after purchasing an additional 10,377 shares in 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.

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Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

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