Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $2.58.

Several equities analysts have commented on AKG shares. Clarus Securities upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Zacks Investment Research upgraded shares of Asanko Gold from a “sell” rating to a “buy” rating and set a $1.00 price target for the company in a research note on Wednesday, October 4th. Royal Bank Of Canada restated a “hold” rating and issued a $1.75 price target on shares of Asanko Gold in a research note on Monday, October 23rd. Canaccord Genuity downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating and set a $1.00 price target for the company. in a research note on Monday, November 20th. Finally, UBS downgraded shares of Asanko Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 14th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL purchased a new stake in shares of Asanko Gold in the second quarter valued at about $138,000. Royal Bank of Canada raised its holdings in shares of Asanko Gold by 37.9% in the second quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock valued at $138,000 after buying an additional 24,758 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Asanko Gold in the third quarter valued at about $161,000. Commerzbank Aktiengesellschaft FI raised its holdings in shares of Asanko Gold by 16.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 134,627 shares of the basic materials company’s stock valued at $206,000 after buying an additional 19,037 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its holdings in shares of Asanko Gold by 67.1% in the second quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock valued at $273,000 after buying an additional 71,688 shares during the last quarter.

Asanko Gold (AKG) remained flat at $$0.61 during trading hours on Thursday. The company’s stock had a trading volume of 1,705,308 shares, compared to its average volume of 1,846,957. Asanko Gold has a 1-year low of $0.60 and a 1-year high of $3.90.

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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 (NYSEAMERICAN:AKG)

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