Asanko Gold Inc (AKG) Earns Market Perform Rating from BMO Capital Markets
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG)‘s stock had its “market perform” rating restated by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Friday. They currently have a C$2.00 target price on the stock. BMO Capital Markets’ price objective points to a potential upside of 61.29% from the company’s previous close.
A number of other analysts have also issued reports on the company. Canaccord Genuity raised their price target on Asanko Gold from C$2.25 to C$2.50 in a research note on Friday, September 29th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Royal Bank Of Canada decreased their price target on Asanko Gold from C$3.00 to C$2.50 and set a “sector perform” rating on the stock in a research note on Thursday, July 27th. Scotiabank decreased their price target on Asanko Gold from C$4.00 to C$2.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Finally, Raymond James Financial, Inc. raised Asanko Gold from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from C$4.40 to C$3.50 in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of C$2.48.
Shares of Asanko Gold (TSE:AKG) traded up 0.81% during mid-day trading on Friday, reaching $1.24. 401,949 shares of the company traded hands. The company’s 50 day moving average is $1.29 and its 200 day moving average is $2.05. Asanko Gold has a 52-week low of $0.99 and a 52-week high of $5.47. The stock has a market capitalization of $252.28 million and a price-to-earnings ratio of 23.40.
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In other Asanko Gold news, Director Groot Marcel H. De purchased 40,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were purchased at an average cost of C$1.49 per share, with a total value of C$59,600.00.
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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