Asanko Gold Inc (AKG) Cut to “Hold” at Clarus Securities
Clarus Securities downgraded shares of Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) from a buy rating to a hold rating in a research report report published on Tuesday morning. Clarus Securities also issued estimates for Asanko Gold’s FY2018 earnings at $0.03 EPS.
A number of other equities analysts also recently commented on AKG. BMO Capital Markets reiterated a market perform rating and issued a C$2.00 price target on shares of Asanko Gold in a research note on Friday, October 20th. Scotiabank decreased their price target on Asanko Gold from C$4.00 to C$2.00 and set a sector perform rating for the company in a research note on Friday, August 4th. Royal Bank Of Canada decreased their price target on Asanko Gold from C$3.00 to C$2.50 and set a sector perform rating for the company in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised shares of Asanko Gold from an outperform rating to a strong-buy rating and cut their target price for the stock from C$4.40 to C$3.50 in a report on Friday, August 4th. Finally, Canaccord Genuity raised their target price on shares of Asanko Gold from C$2.25 to C$2.50 in a report on Friday, September 29th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of C$2.39.
Shares of Asanko Gold (AKG) traded up C$0.01 during trading on Tuesday, hitting C$1.02. The stock had a trading volume of 1,639,909 shares, compared to its average volume of 1,266,799. Asanko Gold has a 12 month low of C$0.99 and a 12 month high of C$5.07.
In other news, Director Groot Marcel H. De bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were purchased at an average price of C$1.49 per share, with a total value of C$59,600.00.
Asanko Gold Company Profile
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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