Asanko Gold (NYSEAMERICAN:AKG) Shares Cross Below 200-Day Moving Average of $0.00

Shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.00 and traded as low as $0.84. Asanko Gold shares last traded at $0.86, with a volume of 51,501 shares changing hands.

AKG has been the subject of a number of recent analyst reports. Zacks Investment Research raised Asanko Gold from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a report on Friday, August 2nd. HC Wainwright set a $2.00 target price on Asanko Gold and gave the company a “buy” rating in a report on Thursday, July 11th.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The business had revenue of $85.72 million for the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of Asanko Gold during the second quarter worth about $60,000. Jane Street Group LLC grew its holdings in shares of Asanko Gold by 178.7% during the second quarter. Jane Street Group LLC now owns 145,122 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 93,051 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Asanko Gold by 48.0% during the fourth quarter. Millennium Management LLC now owns 409,888 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 133,005 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Asanko Gold by 63.1% during the second quarter. JPMorgan Chase & Co. now owns 493,800 shares of the basic materials company’s stock worth $316,000 after purchasing an additional 191,100 shares in the last quarter. Finally, Loews Corp grew its holdings in shares of Asanko Gold by 30.3% during the first quarter. Loews Corp now owns 3,228,506 shares of the basic materials company’s stock worth $2,032,000 after purchasing an additional 750,127 shares in the last quarter.

About Asanko Gold (NYSEAMERICAN:AKG)

Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.

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