Asanko Gold (AKG) Shares Up 1.8%
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) shares shot up 1.8% during trading on Tuesday . The company traded as high as C$1.18 and last traded at C$1.14. 650,314 shares traded hands during trading, a decline of 28% from the average session volume of 906,059 shares. The stock had previously closed at C$1.12.
A number of research firms have commented on AKG. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. BMO Capital Markets reissued a “market perform” rating and issued a C$2.00 price target on shares of Asanko Gold in a report on Friday, October 20th. Raymond James Financial downgraded Asanko Gold from an “outperform” rating to a “market perform” rating and cut their price target for the stock from C$3.50 to C$3.00 in a report on Tuesday, November 14th. Canaccord Genuity raised their price target on Asanko Gold from C$1.00 to C$1.20 in a report on Friday, January 19th. Finally, Royal Bank of Canada cut their price target on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a report on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, Asanko Gold has a consensus rating of “Hold” and an average target price of C$2.01.
The stock has a market cap of $229.82, a price-to-earnings ratio of 56.50 and a beta of -0.51.
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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.
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