Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a research note issued on Monday. They currently have a $1.75 target price on the basic materials company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 80.41% from the stock’s previous close.

Several other research analysts have also recently weighed in on AKG. Clarus Securities cut shares of Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, August 4th. CIBC cut shares of Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a report on Friday, August 4th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Asanko Gold in a report on Friday, August 4th. BidaskClub cut shares of Asanko Gold from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating and set a $1.75 price target for the company in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Asanko Gold currently has a consensus rating of “Hold” and a consensus price target of $3.81.

Shares of Asanko Gold (NYSEMKT AKG) traded down 0.82% during midday trading on Monday, hitting $0.97. 419,660 shares of the company traded hands. Asanko Gold has a 12-month low of $0.77 and a 12-month high of $4.17. The stock has a market capitalization of $197.35 million, a P/E ratio of 18.30 and a beta of 1.05. The stock’s 50-day moving average is $1.03 and its 200 day moving average is $1.54.

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Several hedge funds have recently made changes to their positions in AKG. Morgan Stanley lifted its position in shares of Asanko Gold by 64.5% in the first quarter. Morgan Stanley now owns 1,315,142 shares of the basic materials company’s stock worth $3,433,000 after purchasing an additional 515,632 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Asanko Gold by 139.0% in the first quarter. Renaissance Technologies LLC now owns 531,393 shares of the basic materials company’s stock worth $1,389,000 after purchasing an additional 309,093 shares in the last quarter. KCG Holdings Inc. lifted its position 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 purchasing an additional 54,148 shares in the last quarter. Bank of America Corp DE lifted its position 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 purchasing an additional 192,037 shares in the last quarter. Finally, Credit Suisse AG lifted its position 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 purchasing an additional 10,377 shares in the last quarter.

About Asanko Gold

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)

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