Asanko Gold Inc (AKG) Stock Rating Upgraded by Zacks Investment Research

Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “

A number of other brokerages have also commented on AKG. BidaskClub upgraded shares of Asanko Gold from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 12th. ValuEngine upgraded shares of Asanko Gold from a “sell” rating to a “hold” rating in a report on Thursday, June 1st. Clarus Securities lowered shares of Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, August 4th. CIBC lowered shares of Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a report on Friday, August 4th. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of Asanko Gold in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $4.75.

Shares of Asanko Gold (AKG) opened at 1.06 on Wednesday. Asanko Gold has a 52 week low of $0.77 and a 52 week high of $4.68. The firm has a market capitalization of $215.66 million, a P/E ratio of 20.00 and a beta of 1.05. The firm’s 50-day moving average is $1.06 and its 200 day moving average is $1.83.

TRADEMARK VIOLATION WARNING: This piece was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another site, it was illegally copied and reposted in violation of international copyright & trademark legislation. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2017/09/15/asanko-gold-inc-akg-stock-rating-upgraded-by-zacks-investment-research.html.

A number of institutional investors have recently added to or reduced their stakes in AKG. Commerzbank Aktiengesellschaft FI grew its position in Asanko Gold by 303.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 115,590 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 86,936 shares in the last quarter. Van ECK Associates Corp grew its position in 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 in the last quarter. OppenheimerFunds Inc. grew its position in 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 in the last quarter. Donald Smith & CO. Inc. grew its position in 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 in the last quarter. Finally, Morgan Stanley grew its position in 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 in the last quarter.

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.

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

Receive News & Ratings for Asanko Gold Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asanko Gold Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply