Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) gapped down prior to trading on Thursday . The stock had previously closed at $0.49, but opened at $0.48. Asanko Gold shares last traded at $0.45, with a volume of 3486800 shares traded.

AKG has been the topic of a number of recent research reports. ValuEngine lowered shares of Asanko Gold from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Asanko Gold from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Clarus Securities upgraded shares of Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. BidaskClub upgraded shares of Asanko Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, November 4th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $1.75 target price on shares of Asanko Gold in a report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $2.19.

Several hedge funds have recently made changes to their positions in AKG. Donald Smith & CO. Inc. lifted its holdings in shares of Asanko Gold by 480.2% during the 2nd quarter. Donald Smith & CO. Inc. now owns 16,797,571 shares of the basic materials company’s stock worth $25,700,000 after acquiring an additional 13,902,657 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Asanko Gold by 10,524.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,480,761 shares of the basic materials company’s stock worth $3,796,000 after acquiring an additional 2,457,412 shares during the period. AGF Investments Inc. lifted its holdings in shares of Asanko Gold by 13.3% during the 3rd quarter. AGF Investments Inc. now owns 5,864,934 shares of the basic materials company’s stock worth $5,546,000 after acquiring an additional 686,467 shares during the period. Morgan Stanley lifted its holdings in shares of Asanko Gold by 64.5% during the 1st quarter. Morgan Stanley now owns 1,315,142 shares of the basic materials company’s stock worth $3,433,000 after acquiring an additional 515,632 shares during the period. Finally, JPMorgan Chase & Co. purchased a new position in shares of Asanko Gold during the 2nd quarter worth about $735,000.

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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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