Asanko Gold Inc (AKG) Rating Lowered to Sell at ValuEngine

Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, September 1st.

Other equities analysts have also recently issued research reports about the company. Clarus Securities cut Asanko Gold from a “buy” rating to a “hold” rating in a report on Friday, August 4th. CIBC cut Asanko Gold from a “sector perform” rating to a “sector underperform” rating in a report on Friday, August 4th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Asanko Gold in a report on Friday, August 4th. BidaskClub cut Asanko Gold from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Zacks Investment Research upgraded Asanko Gold from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $4.75.

Asanko Gold (AKG) traded up 0.95% during trading on Friday, reaching $1.06. 2,337,730 shares of the company’s stock traded hands. The firm has a 50 day moving average of $1.05 and a 200 day moving average of $1.82. The firm has a market capitalization of $215.66 million, a PE ratio of 20.00 and a beta of 1.05. Asanko Gold has a 1-year low of $0.78 and a 1-year high of $4.68.

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Institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd acquired a new position in shares of Asanko Gold during the 2nd quarter worth approximately $278,000. Royal Bank of Canada increased its position in shares of Asanko Gold by 37.9% during the 2nd quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 24,758 shares during the last quarter. Goldman Sachs Group Inc. increased its position 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 purchasing an additional 2,457,412 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Asanko Gold during the 2nd quarter worth approximately $138,000. Finally, Donald Smith & CO. Inc. increased its position 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 purchasing an additional 13,902,657 shares during the last quarter.

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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Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

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