Shares of Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG) fell 4.6% during mid-day trading on Wednesday . The company traded as low as C$0.60 and last traded at C$0.62. 2,201,458 shares changed hands during mid-day trading, an increase of 76% from the average session volume of 1,252,919 shares. The stock had previously closed at C$0.65.
A number of research firms have recently issued reports on AKG. Royal Bank of Canada cut their price objective on Asanko Gold from C$2.50 to C$2.00 and set a “sector perform” rating for the company in a research report on Thursday, August 31st. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. BMO Capital Markets reiterated a “market perform” rating and set a C$2.00 target price on shares of Asanko Gold in a research note on Friday, October 20th. Raymond James Financial lowered Asanko Gold from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Finally, Canaccord Genuity increased their target price on Asanko Gold from C$2.25 to C$2.50 in a research note on Friday, September 29th. Six analysts have rated the stock with a hold rating, The stock presently has an average 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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