Shares of Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG) rose 4.9% during trading on Wednesday . The company traded as high as C$0.89 and last traded at C$0.77. Approximately 1,945,453 shares traded hands during mid-day trading, an increase of 52% from the average daily volume of 1,280,748 shares. The stock had previously closed at C$0.81.

AKG has been the topic of a number of analyst reports. 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 issued a C$2.00 price objective on shares of Asanko Gold in a report on Friday, October 20th. Canaccord Genuity lowered shares of Asanko Gold from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$2.50 to C$1.00 in a report on Monday, November 20th. Raymond James Financial lowered shares of Asanko Gold from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from C$3.50 to C$3.00 in a report on Tuesday, November 14th. Finally, Clarus Securities lowered shares of Asanko Gold from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Six investment analysts have rated the stock with a hold rating, The stock currently has a consensus 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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