Asanko Gold Inc (AKG) Receives Consensus Recommendation of “Buy” from Analysts
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) has received a consensus rating of “Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$3.14.
Several research analysts have weighed in on AKG shares. CIBC lowered their price target on Asanko Gold from C$3.85 to C$2.85 in a research report on Tuesday, June 6th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$3.00 price target on shares of Asanko Gold in a research report on Tuesday, June 13th. Scotiabank reaffirmed an “outperform” rating and set a C$4.50 price target on shares of Asanko Gold in a research report on Wednesday, June 7th. Finally, Royal Bank Of Canada lowered their price target on Asanko Gold from C$3.00 to C$2.50 and set a “sector perform” rating on the stock in a research report on Thursday, July 27th.
In other Asanko Gold news, Director William Keith Smart bought 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were acquired at an average cost of C$1.94 per share, with a total value of C$48,500.00. Also, Director Colin Steyn bought 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were acquired at an average cost of C$1.84 per share, for a total transaction of C$368,000.00. Insiders have purchased a total of 296,835 shares of company stock worth $534,987 over the last three months.
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Shares of Asanko Gold (TSE AKG) traded up 6.99% on Tuesday, reaching $1.53. 910,731 shares of the company’s stock were exchanged. The company has a market capitalization of $311.28 million and a P/E ratio of 28.87. Asanko Gold has a 12 month low of $0.99 and a 12 month high of $6.09. The firm’s 50 day moving average price is $1.53 and its 200-day moving average price is $2.68.
About Asanko Gold
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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