Brokerages Set Asanko Gold Inc. (AKG) PT at $5.25
Shares of Asanko Gold Inc. (NYSEMKT:AKG) (TSE:AKG) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.25.
AKG has been the subject of a number of recent research reports. Scotiabank reissued an “outperform” rating and issued a $6.75 price objective on shares of Asanko Gold in a research note on Wednesday, August 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Asanko Gold in a report on Friday, September 16th. Finally, Zacks Investment Research lowered shares of Asanko Gold from a “hold” rating to a “sell” rating in a report on Wednesday, November 2nd.
Asanko Gold (NYSEMKT:AKG) opened at 3.31 on Monday. The stock’s 50 day moving average price is $3.72 and its 200 day moving average price is $3.92. The company’s market capitalization is $666.28 million. Asanko Gold has a 12-month low of $1.27 and a 12-month high of $4.68.
Asanko Gold (NYSEMKT:AKG) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by $0.07. On average, equities analysts anticipate that Asanko Gold will post $0.01 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Bank of Nova Scotia raised its stake in Asanko Gold by 9.4% in the second quarter. Bank of Nova Scotia now owns 53,671 shares of the company’s stock valued at $205,000 after buying an additional 4,595 shares during the last quarter. Tower Research Capital LLC TRC increased its position 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. Vanguard Group Inc. increased its position 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. Global X Management Co. LLC increased its position in shares of Asanko Gold by 22.4% in the second quarter. Global X Management Co. LLC now owns 912,050 shares of the company’s stock worth $3,469,000 after buying an additional 167,160 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of Asanko Gold during the second quarter worth $164,000.
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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