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

Shares of Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) have been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $2.58.

A number of analysts have recently commented on AKG shares. Raymond James Financial reissued a “market perform” rating on shares of Asanko Gold in a research note on Tuesday, November 14th. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. ValuEngine lowered Asanko Gold from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub raised Asanko Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 4th. Finally, Scotiabank lowered Asanko Gold from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, August 9th.

Asanko Gold (NYSEAMERICAN:AKG) traded down $0.01 during trading on Thursday, reaching $0.62. The company’s stock had a trading volume of 650,633 shares, compared to its average volume of 1,833,143. Asanko Gold has a 1 year low of $0.60 and a 1 year high of $3.90.

Institutional investors have recently bought and sold shares of the stock. AGF Investments Inc. lifted its stake in shares of Asanko Gold by 13.3% in the third 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 during the period. Franklin Resources Inc. lifted its stake in shares of 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 worth $6,479,000 after acquiring an additional 370,000 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of Asanko Gold by 20.7% in the third 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 during the period. JPMorgan Chase & Co. acquired a new position in shares of Asanko Gold in the second quarter worth approximately $735,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Asanko Gold by 139.0% in the first quarter. Renaissance Technologies LLC now owns 531,393 shares of the basic materials company’s stock worth $1,389,000 after acquiring an additional 309,093 shares during the period.

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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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