Shares of Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) gapped up before the market opened on Monday . The stock had previously closed at $0.44, but opened at $0.46. Asanko Gold shares last traded at $0.62, with a volume of 3618957 shares traded.

AKG has been the topic of several research analyst reports. Canaccord Genuity lowered Asanko Gold from a “buy” rating to a “hold” rating and set a $1.00 price objective on the stock. in a research note on Monday, November 20th. Zacks Investment Research upgraded Asanko Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $1.75 target price on shares of Asanko Gold in a research report on Monday, October 23rd. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a research report on Monday, November 6th. Finally, BidaskClub raised Asanko Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 4th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Asanko Gold presently has an average rating of “Hold” and an average price target of $1.25.

Several hedge funds have recently modified their holdings of the business. Credit Suisse AG grew its stake in shares of Asanko Gold by 7.3% in the 1st quarter. Credit Suisse AG now owns 152,556 shares of the basic materials company’s stock valued at $397,000 after buying an additional 10,377 shares during the period. Commerzbank Aktiengesellschaft FI grew its stake in shares of Asanko Gold by 16.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 134,627 shares of the basic materials company’s stock valued at $206,000 after buying an additional 19,037 shares during the period. Royal Bank of Canada grew its stake in shares of Asanko Gold by 37.9% in the 2nd quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock valued at $138,000 after buying 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 2nd quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock valued at $273,000 after buying an additional 71,688 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Asanko Gold in the 2nd quarter valued at about $138,000.

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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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