Asanko Gold Inc (AKG) Lifted to Sell at BidaskClub

Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and set a $1.75 target price on shares of Asanko Gold in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine downgraded shares of Asanko Gold from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Scotiabank downgraded shares of Asanko Gold from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, August 9th. Finally, Clarus Securities downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $3.81.

Asanko Gold (AKG) opened at $1.01 on Friday. Asanko Gold has a 12 month low of $0.77 and a 12 month high of $4.01.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sprott Inc. boosted its stake in Asanko Gold by 0.5% in the second quarter. Sprott Inc. now owns 4,531,679 shares of the basic materials company’s stock valued at $6,933,000 after acquiring an additional 21,898 shares in the last quarter. Franklin Resources Inc. boosted its stake in Asanko Gold by 9.6% in the second quarter. Franklin Resources Inc. now owns 4,220,000 shares of the basic materials company’s stock valued at $6,479,000 after acquiring an additional 370,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Asanko Gold by 139.0% in the first quarter. Renaissance Technologies LLC now owns 531,393 shares of the basic materials company’s stock valued at $1,389,000 after acquiring an additional 309,093 shares in the last quarter. AGF Investments Inc. boosted its stake in Asanko Gold by 7.1% in the second quarter. AGF Investments Inc. now owns 5,178,467 shares of the basic materials company’s stock valued at $7,951,000 after acquiring an additional 345,165 shares in the last quarter. Finally, Donald Smith & CO. Inc. boosted its stake in Asanko Gold by 480.2% in the second quarter. Donald Smith & CO. Inc. now owns 16,797,571 shares of the basic materials company’s stock valued at $25,700,000 after acquiring an additional 13,902,657 shares in the last quarter.

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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