Asanko Gold (AKG) Shares Up 2.9%
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) shot up 2.9% during trading on Tuesday . The company traded as high as C$1.05 and last traded at C$1.05. 365,728 shares changed hands during trading, a decline of 49% from the average session volume of 720,844 shares. The stock had previously closed at C$1.02.
A number of research firms have recently commented on AKG. Royal Bank of Canada lowered their target price on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a research note on Monday, December 4th. Canaccord Genuity lifted their target price on Asanko Gold from C$2.25 to C$2.50 in a research note on Friday, September 29th. Clarus Securities cut Asanko Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Raymond James Financial cut Asanko Gold from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$2.00 target price on shares of Asanko Gold in a research note on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus price target of C$1.98.
The firm has a market capitalization of $223.89, a P/E ratio of 55.00 and a beta of -0.51.
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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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