AGF Investments Inc. grew its holdings in Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,178,467 shares of the basic materials company’s stock after purchasing an additional 345,165 shares during the quarter. AGF Investments Inc. owned 2.55% of Asanko Gold worth $7,951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AKG. Van ECK Associates Corp boosted its stake in shares of Asanko Gold by 11.4% in the first quarter. Van ECK Associates Corp now owns 41,652,253 shares of the basic materials company’s stock valued at $108,729,000 after purchasing an additional 4,276,240 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of Asanko Gold by 44.1% in the first quarter. Donald Smith & CO. Inc. now owns 2,894,914 shares of the basic materials company’s stock valued at $7,556,000 after purchasing an additional 886,424 shares during the period. OppenheimerFunds Inc. boosted its stake in shares of Asanko Gold by 20.4% in the first quarter. OppenheimerFunds Inc. now owns 4,960,000 shares of the basic materials company’s stock valued at $13,017,000 after purchasing an additional 840,000 shares during the period. Morgan Stanley boosted its stake in shares of Asanko Gold by 64.5% in the first quarter. Morgan Stanley now owns 1,315,142 shares of the basic materials company’s stock valued at $3,433,000 after purchasing an additional 515,632 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of Asanko Gold in the second quarter valued at approximately $735,000.

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Several analysts recently weighed in on the stock. 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. Zacks Investment Research cut shares of Asanko Gold from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. CIBC cut shares of Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a report on Friday, August 4th. Finally, Clarus Securities cut shares of Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Asanko Gold currently has an average rating of “Hold” and an average price target of $4.75.

Shares of Asanko Gold Inc (NYSEMKT AKG) opened at 1.12 on Friday. The firm has a market cap of $227.86 million, a PE ratio of 21.13 and a beta of 1.05. Asanko Gold Inc has a one year low of $0.77 and a one year high of $4.68. The company has a 50-day moving average of $1.09 and a 200 day moving average of $1.89.

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.

Institutional Ownership by Quarter for Asanko Gold (NYSEMKT:AKG)

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