Clarus Securities Comments on Asanko Gold Inc’s FY2018 Earnings (TSE:AKG)
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) – Equities research analysts at Clarus Securities decreased their FY2018 EPS estimates for Asanko Gold in a research note issued on Friday. Clarus Securities analyst N. Sangmuah now expects that the company will post earnings per share of $0.11 for the year, down from their prior estimate of $0.19. Clarus Securities currently has a “Hold” rating on the stock. Clarus Securities also issued estimates for Asanko Gold’s FY2019 earnings at $0.11 EPS.
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Several other brokerages also recently weighed in on AKG. Scotiabank reiterated an “outperform” rating and issued a C$4.00 target price on shares of Asanko Gold in a research note on Wednesday, June 14th. Royal Bank Of Canada lowered their target price on Asanko Gold from C$3.00 to C$2.50 and set a “sector perform” rating on the stock in a research note on Thursday, July 27th. Finally, CIBC lowered their target price on Asanko Gold from C$3.85 to C$2.85 in a research note on Tuesday, June 6th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$3.14.
Shares of Asanko Gold (TSE AKG) opened at 1.11 on Monday. The stock’s market cap is $225.83 million. Asanko Gold has a 52-week low of $0.99 and a 52-week high of $6.09. The firm has a 50-day moving average price of $1.89 and a 200 day moving average price of $3.11.
In other Asanko Gold news, Director Colin Steyn purchased 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were purchased at an average cost of C$1.84 per share, for a total transaction of C$368,000.00. Also, Director William Keith Smart purchased 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was acquired at an average price of C$1.94 per share, for a total transaction of C$48,500.00. Over the last 90 days, insiders purchased 276,835 shares of company stock worth $514,987.
Asanko Gold Company Profile
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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