ValuEngine cut shares of Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) from a hold rating to a sell rating in a research report report published on Friday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Asanko Gold from a hold rating to a buy rating and set a $1.75 price target on the stock in a report on Wednesday, July 19th. Clarus Securities reaffirmed a buy rating on shares of Asanko Gold in a report on Friday, May 5th. Raymond James Financial, Inc. reaffirmed an outperform rating on shares of Asanko Gold in a report on Friday, August 4th. Scotiabank cut shares of Asanko Gold from a sector outperform rating to a sector perform rating in a report on Wednesday, August 9th. Finally, CIBC cut shares of Asanko Gold from a sector perform rating to a sector underperform rating in a report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Asanko Gold presently has an average rating of Hold and an average price target of $4.75.

Shares of Asanko Gold (NYSEMKT:AKG) traded down 2.46% during trading on Friday, hitting $1.19. The stock had a trading volume of 981,615 shares. The company’s 50 day moving average price is $1.15 and its 200 day moving average price is $1.94. Asanko Gold has a 52 week low of $0.78 and a 52 week high of $4.68. The company has a market capitalization of $242.10 million, a price-to-earnings ratio of 22.45 and a beta of 1.05.

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Large investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd acquired a new stake in shares of Asanko Gold during the second quarter worth about $278,000. Royal Bank of Canada boosted its stake in shares of Asanko Gold by 37.9% in the second quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock worth $138,000 after buying an additional 24,758 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Asanko Gold by 10,524.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,480,761 shares of the basic materials company’s stock worth $3,796,000 after buying an additional 2,457,412 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Asanko Gold during the second quarter worth about $138,000. Finally, Donald Smith & CO. Inc. boosted its stake in shares of Asanko Gold by 480.2% in the second quarter. Donald Smith & CO. Inc. now owns 16,797,571 shares of the basic materials company’s stock worth $25,700,000 after buying an additional 13,902,657 shares during the last quarter.

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.

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

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