Asanko Gold Inc (AKG) Receives Average Recommendation of “Hold” from Brokerages
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) has been assigned an average rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$1.98.
AKG has been the topic of several recent research reports. Royal Bank of Canada reduced their target price on shares of Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a report on Monday, December 4th. Canaccord Genuity lifted their target price on shares of Asanko Gold from C$2.25 to C$2.50 in a report on Friday, September 29th. Raymond James Financial lowered shares of Asanko Gold from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$3.50 to C$3.00 in a report on Tuesday, November 14th. Clarus Securities upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a C$2.00 price target on shares of Asanko Gold in a research note on Friday, October 20th.
Asanko Gold (TSE:AKG) traded up C$0.04 during trading hours on Monday, hitting C$0.89. 1,135,295 shares of the company traded hands, compared to its average volume of 1,265,090. The firm has a market cap of $179.84, a price-to-earnings ratio of 44.50 and a beta of -0.51. Asanko Gold has a 1-year low of C$0.55 and a 1-year high of C$5.07.
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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.
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