Q1 2018 EPS Estimates for Asanko Gold Inc (AKG) Cut by Analyst
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) – Investment analysts at Cormark decreased their Q1 2018 earnings estimates for Asanko Gold in a research note issued to investors on Friday. Cormark analyst T. Breytenbach now expects that the company will post earnings per share of $0.00 for the quarter, down from their prior estimate of $0.03. Cormark also issued estimates for Asanko Gold’s Q2 2018 earnings at $0.00 EPS, Q3 2018 earnings at $0.00 EPS and Q4 2018 earnings at $0.00 EPS.
Other equities research analysts have also recently issued reports about the company. CIBC decreased their price target on Asanko Gold from C$4.50 to C$3.85 in a research report on Friday, May 5th. Clarus Securities cut shares of Asanko Gold from a “buy” rating to a “hold” rating in a research report on Friday. BMO Capital Markets restated a “market perform” rating and issued a C$3.00 price objective on shares of Asanko Gold in a research report on Tuesday, June 13th. Scotiabank restated an “outperform” rating and issued a C$4.50 price objective on shares of Asanko Gold in a research report on Wednesday, June 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Asanko Gold from C$3.00 to C$2.50 and set a “sector perform” rating on the stock in a research report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of C$3.14.
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Shares of Asanko Gold (TSE:AKG) traded down 0.90% during midday trading on Monday, reaching $1.10. 301,190 shares of the company’s stock were exchanged. The company’s market cap is $223.79 million. Asanko Gold has a 12 month low of $1.08 and a 12 month 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 news, Director Colin Steyn bought 200,000 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was acquired at an average price of C$1.84 per share, with a total value of C$368,000.00. Also, Director William Keith Smart bought 25,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was purchased at an average cost of C$1.94 per share, with a total value of C$48,500.00. In the last ninety days, insiders acquired 276,835 shares of company stock valued at $514,987.
About Asanko Gold
Asanko Gold Inc is a gold producer. The Company has operations in the Republic of Ghana. The Company’s segments include Canada and Ghana. The Company’s principal asset is the Asanko Gold Mine (AGM) located in Ghana, West Africa. The Company’s Project 5M will upgrade the plant’s throughput to five metric tons per annum and expand mining operations to integrate the Esaase deposit, including the construction of a 27-kilometer overland conveyor.
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