Asanko Gold Inc. (AKG) Earns Outperform Rating from BMO Capital Markets
Several other brokerages have also recently issued reports on AKG. Canaccord Genuity upgraded Asanko Gold from a hold rating to a buy rating in a research note on Monday, June 6th. Zacks Investment Research cut Asanko Gold from a hold rating to a sell rating in a research note on Tuesday, June 7th. Royal Bank Of Canada cut Asanko Gold from an outperform rating to a sector perform rating in a research note on Thursday, June 9th. Finally, Scotiabank restated an outperform rating and set a $6.75 price objective on shares of Asanko Gold in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Asanko Gold presently has a consensus rating of Buy and a consensus target price of $4.53.
Asanko Gold (NYSEMKT:AKG) opened at 4.38 on Friday. Asanko Gold has a 52 week low of $1.27 and a 52 week high of $4.65. The firm has a 50-day moving average of $4.29 and a 200 day moving average of $3.53. The firm’s market capitalization is $881.67 million.
Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in Asanko Gold by 531.3% in the second quarter. Tower Research Capital LLC TRC now owns 24,235 shares of the company’s stock worth $120,000 after buying an additional 20,396 shares during the last quarter. CIBC World Markets Inc. raised its position in shares of Asanko Gold by 12.9% in the second quarter. CIBC World Markets Inc. now owns 31,923 shares of the company’s stock worth $122,000 after buying an additional 3,660 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Asanko Gold during the second quarter worth approximately $164,000. Vanguard Group Inc. raised its position in shares of Asanko Gold by 9.1% in the second quarter. Vanguard Group Inc. now owns 49,534 shares of the company’s stock worth $189,000 after buying an additional 4,123 shares during the period. Finally, Bank of Nova Scotia raised its position in shares of Asanko Gold by 9.4% in the second quarter. Bank of Nova Scotia now owns 53,671 shares of the company’s stock worth $205,000 after buying an additional 4,595 shares during the period.
About Asanko Gold
Asanko Gold Inc (Asanko) is an exploration and development-stage company. The Company is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. The Company’s segment is the exploration and development of resource properties. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration.
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