Asanko Gold (AKG) Trading Down 12.4%
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) shares were down 12.4% during mid-day trading on Thursday . The company traded as low as C$0.99 and last traded at C$0.99. Approximately 511,709 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 890,677 shares. The stock had previously closed at C$1.13.
A number of research analysts have issued reports on AKG shares. Clarus Securities raised Asanko Gold from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. BMO Capital Markets reissued a “market perform” rating and issued a C$2.00 target price on shares of Asanko Gold in a research note on Friday, October 20th. Raymond James Financial cut Asanko Gold from an “outperform” rating to a “market perform” rating and decreased their target price for the company from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Canaccord Genuity cut Asanko Gold from a “buy” rating to a “hold” rating and decreased their target price for the company from C$2.50 to C$1.00 in a research note on Monday, November 20th. Finally, Royal Bank of Canada decreased their target price on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating for the company in a research note on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and a consensus price target of C$2.01.
The firm has a market cap of $196.59, a PE ratio of 48.50 and a beta of -0.17.
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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