Clarus Securities Comments on Asanko Gold Inc’s FY2018 Earnings (AKG)

Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) – Equities researchers at Clarus Securities lowered their FY2018 earnings per share estimates for shares of Asanko Gold in a research report issued on Tuesday. Clarus Securities analyst N. Sangmuah now forecasts that the company will post earnings of $0.03 per share for the year, down from their prior estimate of $0.12. Clarus Securities currently has a “Hold” rating on the stock.

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Several other equities research analysts have also weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Asanko Gold from C$2.50 to C$2.00 and set a “sector perform” rating on the stock in a report on Thursday, August 31st. BMO Capital Markets restated a “market perform” rating and set a C$2.00 price objective on shares of Asanko Gold in a report on Friday, October 20th. Raymond James Financial, Inc. upgraded shares of Asanko Gold from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from C$4.40 to C$3.50 in a report on Friday, August 4th. Scotiabank dropped their price objective on shares of Asanko Gold from C$4.00 to C$2.00 and set a “sector perform” rating on the stock in a report on Friday, August 4th. Finally, Canaccord Genuity raised their price objective on shares of Asanko Gold from C$2.25 to C$2.50 in a report on Friday, September 29th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of C$2.39.

Shares of Asanko Gold (TSE:AKG) opened at C$1.02 on Friday. Asanko Gold has a twelve month low of C$0.99 and a twelve month high of C$5.07.

In related news, Director Groot Marcel H. De acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were acquired at an average cost of C$1.49 per share, for a total transaction 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.

Earnings History and Estimates for Asanko Gold (TSE:AKG)

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