Asanko Gold (AKG) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) from a sell rating to a hold rating in a report released on Tuesday.
According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “
Several other research firms have also issued reports on AKG. UBS Group lowered shares of Asanko Gold from an outperform rating to a market perform rating in a research report on Tuesday, November 14th. Raymond James Financial reaffirmed a market perform rating on shares of Asanko Gold in a research report on Tuesday, November 14th. BidaskClub raised shares of Asanko Gold from a strong sell rating to a sell rating in a research report on Saturday, November 4th. Clarus Securities raised shares of Asanko Gold from a hold rating to a buy rating in a research report on Monday, November 6th. Finally, Royal Bank of Canada reaffirmed a hold rating and set a $1.75 price target on shares of Asanko Gold in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Asanko Gold currently has a consensus rating of Hold and an average price target of $1.25.
Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last announced its quarterly earnings data on Friday, November 3rd. The basic materials company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Asanko Gold had a net margin of 9.25% and a return on equity of 4.34%.
Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Asanko Gold by 37.9% in the second quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 24,758 shares during the period. Virtu KCG Holdings LLC grew its stake in shares of Asanko Gold by 67.1% in the second quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock valued at $273,000 after acquiring an additional 71,688 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Asanko Gold in the second quarter valued at about $138,000. Integrated Investment Consultants LLC acquired a new position in shares of Asanko Gold in the third quarter valued at about $161,000. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Asanko Gold in the second quarter valued at about $278,000.
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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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