Asanko Gold Inc. (AKG) Receives Outperform Rating from Scotiabank
Scotiabank restated their outperform rating on shares of Asanko Gold Inc. (NYSEMKT:AKG) in a research note published on Friday. Scotiabank currently has a $7.50 price objective on the stock, up from their previous price objective of $6.75.
Several other equities analysts have also issued reports on AKG. BMO Capital Markets reiterated an outperform rating and issued a $6.50 price objective on shares of Asanko Gold in a research report on Friday, September 16th. Zacks Investment Research lowered Asanko Gold from a hold rating to a sell rating in a research report on Tuesday, June 7th. Royal Bank Of Canada lowered Asanko Gold from an outperform rating to a sector perform rating in a research report on Thursday, June 9th. Finally, Canaccord Genuity upgraded Asanko Gold from a hold rating to a buy rating in a research report on Monday, June 6th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $4.53.
Shares of Asanko Gold (NYSEMKT:AKG) opened at 4.55 on Friday. The firm’s market cap is $915.89 million. The stock has a 50 day moving average of $4.30 and a 200 day moving average of $3.54. Asanko Gold has a 52 week low of $1.27 and a 52 week high of $4.65.
Several large investors have recently made changes to their positions in AKG. Global X Management Co. LLC boosted its stake in Asanko Gold by 22.4% in the second quarter. Global X Management Co. LLC now owns 912,050 shares of the company’s stock worth $3,469,000 after buying an additional 167,160 shares during the period. CIBC Asset Management Inc acquired a new stake in Asanko Gold during the second quarter worth $10,125,000. Renaissance Technologies LLC boosted its stake in Asanko Gold by 424.0% in the first quarter. Renaissance Technologies LLC now owns 1,122,469 shares of the company’s stock worth $2,389,000 after buying an additional 908,269 shares during the period. Royal Bank of Canada boosted its stake in Asanko Gold by 48.5% in the first quarter. Royal Bank of Canada now owns 1,422,706 shares of the company’s stock worth $3,030,000 after buying an additional 464,840 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in Asanko Gold by 4.7% in the first quarter. 1832 Asset Management L.P. now owns 9,440,000 shares of the company’s stock worth $35,344,000 after buying an additional 426,500 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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