Asanko Gold Inc (AKG) Receives Consensus Rating of “Hold” from Brokerages

Shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) have been given an average recommendation of “Hold” by the ten brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $1.38.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, October 20th. Royal Bank of Canada reiterated a “hold” rating and set a $1.75 price target on shares of Asanko Gold in a report on Monday, October 23rd. BidaskClub upgraded Asanko Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. Clarus Securities upgraded Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Finally, UBS Group lowered Asanko Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 14th.

Shares of Asanko Gold (AKG) traded up $0.04 during midday trading on Tuesday, reaching $0.95. The company’s stock had a trading volume of 504,340 shares, compared to its average volume of 1,417,751. Asanko Gold has a 12-month low of $0.43 and a 12-month high of $3.24. The firm has a market cap of $176.68, a price-to-earnings ratio of 47.50 and a beta of 0.42.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada lifted its holdings in Asanko Gold by 37.9% in the 2nd quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 24,758 shares during the last quarter. Virtu KCG Holdings LLC lifted its holdings in Asanko Gold by 67.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock worth $273,000 after purchasing an additional 71,688 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Asanko Gold in the 2nd quarter worth approximately $138,000. Integrated Investment Consultants LLC acquired a new stake in Asanko Gold in the 3rd quarter worth approximately $161,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in Asanko Gold in the 2nd quarter worth approximately $278,000.

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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.

Analyst Recommendations for Asanko Gold (NYSEAMERICAN:AKG)

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