Asanko Gold Inc (TSE:AKG) Rating Lowered to Hold at Clarus Securities
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) was downgraded by investment analysts at Clarus Securities from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. Clarus Securities also issued estimates for Asanko Gold’s FY2018 earnings at $0.11 EPS and FY2019 earnings at $0.11 EPS.
AKG has been the topic of a number of other reports. Royal Bank Of Canada cut their price target on shares of Asanko Gold from C$6.00 to C$5.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 12th. Raymond James Financial, Inc. reiterated a “strong-buy” rating and set a C$4.75 price target on shares of Asanko Gold in a research note on Tuesday, April 18th. Scotiabank reiterated an “outperform” rating and set a C$5.75 price target on shares of Asanko Gold in a research note on Wednesday, April 19th. CIBC cut their price target on shares of Asanko Gold from C$4.50 to C$3.85 in a research note on Friday, May 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$3.00 price target on shares of Asanko Gold in a research note on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of C$3.14.
Asanko Gold (AKG) opened at 1.11 on Friday. The stock’s 50 day moving average price is $1.89 and its 200-day moving average price is $3.11. Asanko Gold has a 12 month low of $0.99 and a 12 month high of $6.09. The firm’s market capitalization is $225.83 million.
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In other news, insider Trapani Fausto Di bought 51,835 shares of the stock in a transaction dated Tuesday, June 20th. The shares were acquired at an average price of C$1.90 per share, with a total value of C$98,486.50. Also, Director William Keith Smart bought 25,000 shares of the stock in a transaction dated Monday, June 19th. The stock was purchased at an average cost of C$1.94 per share, for a total transaction of C$48,500.00. Over the last 90 days, insiders acquired 276,835 shares of company stock worth $514,987.
About Asanko Gold
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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