Sprott Inc. Purchases 1,238,695 Shares of Asanko Gold Inc. (AKG)
Sprott Inc. boosted its position in Asanko Gold Inc. (NYSEMKT:AKG) by 17.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,405,441 shares of the company’s stock after buying an additional 1,238,695 shares during the period. Asanko Gold comprises about 1.2% of Sprott Inc.’s holdings, making the stock its 12th largest position. Sprott Inc. owned about 4.18% of Asanko Gold worth $35,303,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in shares of Asanko Gold by 531.3% in the second quarter. Tower Research Capital LLC TRC now owns 24,235 shares of the company’s stock worth $120,000 after buying an additional 20,396 shares during the period. CIBC World Markets Inc. boosted its stake in shares of Asanko Gold by 12.9% in the second quarter. CIBC World Markets Inc. now owns 31,923 shares of the company’s stock worth $122,000 after buying an additional 3,660 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Asanko Gold during the second quarter worth approximately $164,000. Vanguard Group Inc. boosted its stake in shares of Asanko Gold by 9.1% in the second quarter. Vanguard Group Inc. now owns 49,534 shares of the company’s stock worth $189,000 after buying an additional 4,123 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Asanko Gold by 46.3% in the third quarter. Great West Life Assurance Co. Can now owns 47,199 shares of the company’s stock worth $199,000 after buying an additional 14,935 shares during the period.
Shares of Asanko Gold Inc. (NYSEMKT:AKG) opened at 3.58 on Thursday. The company’s market cap is $720.63 million. Asanko Gold Inc. has a 1-year low of $1.27 and a 1-year high of $4.68. The firm has a 50-day moving average price of $3.86 and a 200 day moving average price of $3.90.
Asanko Gold (NYSEMKT:AKG) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by $0.07. On average, analysts predict that Asanko Gold Inc. will post $0.01 EPS for the current fiscal year.
A number of research analysts have issued reports on AKG shares. Zacks Investment Research raised Asanko Gold from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Scotiabank reissued an “outperform” rating and issued a $7.50 target price (up from $6.75) on shares of Asanko Gold in a research note on Friday, September 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $6.50 price objective on shares of Asanko Gold in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Asanko Gold has an average rating of “Hold” and a consensus price target of $4.53.
Asanko Gold Company Profile
Asanko Gold Inc (Asanko) is an exploration and development-stage company. The Company is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. The Company’s segment is the exploration and development of resource properties. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration.
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