Asanko Gold Inc. (AKG) Position Boosted by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC increased its position in shares of Asanko Gold Inc. (NYSEMKT:AKG) by 531.3% during the second quarter, Holdings Channel reports. The fund owned 24,235 shares of the company’s stock after buying an additional 20,396 shares during the period. Tower Research Capital LLC TRC’s holdings in Asanko Gold were worth $120,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in Asanko Gold during the second quarter worth approximately $10,125,000. AGF Investments Inc. boosted its stake in Asanko Gold by 68.7% in the second quarter. AGF Investments Inc. now owns 5,311,775 shares of the company’s stock worth $20,303,000 after buying an additional 2,162,696 shares during the last quarter. Bank of Montreal Can purchased a new stake in Asanko Gold during the second quarter worth approximately $5,826,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Asanko Gold during the second quarter worth approximately $6,169,000. Finally, Alps Advisors Inc. purchased a new stake in Asanko Gold during the second quarter worth approximately $2,813,000.
Asanko Gold Inc. (NYSEMKT:AKG) opened at 3.41 on Wednesday. The company has a 50 day moving average of $4.08 and a 200-day moving average of $3.71. Asanko Gold Inc. has a 12-month low of $1.27 and a 12-month high of $4.68. The stock’s market capitalization is $686.41 million.
AKG has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Asanko Gold from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Scotiabank reiterated an “outperform” rating and set a $6.75 price objective on shares of Asanko Gold in a research report on Wednesday, August 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $6.50 price objective on shares of Asanko Gold in a research report on Friday, September 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $4.53.
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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