Shares of Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG) shot up 6.5% during mid-day trading on Thursday . The stock traded as high as C$0.62 and last traded at C$0.58. 2,575,914 shares changed hands during trading, an increase of 105% from the average session volume of 1,258,432 shares. The stock had previously closed at C$0.62.

Several brokerages have issued reports on AKG. Royal Bank of Canada cut their price objective on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a research note on Monday, December 4th. Canaccord Genuity cut Asanko Gold from a “buy” rating to a “hold” rating and cut their price objective for the company from C$2.50 to C$1.00 in a research note on Monday, November 20th. Clarus Securities cut Asanko Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Raymond James Financial cut Asanko Gold from an “outperform” rating to a “market perform” rating and cut their price objective for the company from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Finally, BMO Capital Markets restated a “market perform” rating and set a C$2.00 price objective on shares of Asanko Gold in a research note on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average target price of C$1.98.

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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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