Scotiabank reaffirmed their outperform rating on shares of Asanko Gold Inc. (NYSEMKT:AKG) (TSE:AKG) in a research note issued to investors on Wednesday. Scotiabank currently has a $7.50 target price on the stock.

A number of other analysts have also recently commented on AKG. BMO Capital Markets reaffirmed an outperform rating and set a $6.50 price target on shares of Asanko Gold in a research report on Friday, September 16th. Zacks Investment Research cut Asanko Gold from a hold rating to a sell rating in a research report on Wednesday, November 2nd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $4.72.

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

Shares of Asanko Gold (NYSEMKT:AKG) opened at 3.35 on Wednesday. The stock’s market cap is $676.13 million. The company’s 50 day moving average price is $3.63 and its 200 day moving average price is $3.92. Asanko Gold has a 52-week low of $1.27 and a 52-week high of $4.68.

Asanko Gold (NYSEMKT:AKG) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by $0.07. On average, analysts anticipate that Asanko Gold will post $0.03 earnings per share for the current year.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC raised its stake in 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. raised its stake in 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 Asanko Gold during the second quarter worth about $164,000. Vanguard Group Inc. raised its stake in 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 position in 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 in the last quarter.

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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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