Asanko Gold (AKG) Reaches New 1-Year Low at $0.65

Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$0.65 and last traded at C$0.65, with a volume of 2112655 shares traded. The stock had previously closed at C$0.73.

Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated a “market perform” rating and set a C$2.00 price target on shares of Asanko Gold in a report on Friday, October 20th. Clarus Securities downgraded Asanko Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Canaccord Genuity downgraded Asanko Gold from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$2.50 to C$1.00 in a research note on Monday, November 20th. Raymond James Financial downgraded Asanko Gold from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Finally, Royal Bank of Canada reduced their price objective on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating for the company in a research note on Monday, December 4th. Six analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of C$1.98.

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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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