Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) has earned a consensus recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $1.38.
AKG has been the topic of a number of analyst reports. Clarus Securities upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. BidaskClub upgraded shares of Asanko Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. Royal Bank of Canada restated a “hold” rating and issued a $1.75 price objective on shares of Asanko Gold in a report on Monday, October 23rd. Zacks Investment Research lowered shares of Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Finally, UBS Group lowered shares of Asanko Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 14th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. raised its stake in Asanko Gold by 20.7% during the 3rd quarter. Donald Smith & CO. Inc. now owns 20,273,390 shares of the basic materials company’s stock worth $19,327,000 after acquiring an additional 3,475,819 shares in the last quarter. AGF Investments Inc. raised its stake in Asanko Gold by 13.3% during the 3rd quarter. AGF Investments Inc. now owns 5,864,934 shares of the basic materials company’s stock worth $5,546,000 after acquiring an additional 686,467 shares in the last quarter. Franklin Resources Inc. raised its stake in Asanko Gold by 9.6% during the 2nd quarter. Franklin Resources Inc. now owns 4,220,000 shares of the basic materials company’s stock worth $6,479,000 after acquiring an additional 370,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Asanko Gold by 10,524.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,480,761 shares of the basic materials company’s stock worth $3,796,000 after acquiring an additional 2,457,412 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Asanko Gold during the 2nd quarter worth $735,000.
Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last released its earnings results on Friday, November 3rd. The basic materials company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Asanko Gold had a net margin of 9.25% and a return on equity of 4.34%.
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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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