Asanko Gold Inc (AKG) Lowered to “Market Perform” at Raymond James Financial, Inc.
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) was downgraded by research analysts at Raymond James Financial, Inc. from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday. They currently have a C$3.00 price objective on the stock, down from their prior price objective of C$3.50. Raymond James Financial, Inc.’s price target points to a potential upside of 145.90% from the company’s current price.
AKG has been the topic of several other reports. Canaccord Genuity lifted their price target on Asanko Gold from C$2.25 to C$2.50 in a research report on Friday, September 29th. Royal Bank Of Canada dropped their price target on Asanko Gold from C$2.50 to C$2.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 31st. BMO Capital Markets restated a “market perform” rating and set a C$2.00 price target on shares of Asanko Gold in a research report on Friday, October 20th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Scotiabank dropped their price target on Asanko Gold from C$4.00 to C$2.00 and set a “sector perform” rating on the stock in a research report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of C$2.39.
Asanko Gold (TSE:AKG) traded down C$0.02 during midday trading on Tuesday, hitting C$1.22. The company had a trading volume of 509,758 shares, compared to its average volume of 1,252,173. Asanko Gold has a one year low of C$0.99 and a one year high of C$5.07.
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In related news, Director Groot Marcel H. De bought 40,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were acquired at an average cost of C$1.49 per share, with a total value of C$59,600.00.
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.
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