Asanko Gold Inc. (AKG) Holdings Boosted by Donald Smith & CO. Inc.
Donald Smith & CO. Inc. grew its holdings in shares of Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,273,390 shares of the basic materials company’s stock after purchasing an additional 3,475,819 shares during the period. Donald Smith & CO. Inc. owned approximately 9.96% of Asanko Gold worth $19,327,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AKG. Tudor Investment Corp ET AL acquired a new stake in shares of Asanko Gold in the 2nd quarter worth approximately $138,000. Royal Bank of Canada grew its holdings 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 worth $138,000 after acquiring an additional 24,758 shares during the period. Integrated Investment Consultants LLC acquired a new stake in shares of Asanko Gold in the 3rd quarter worth approximately $161,000. Commerzbank Aktiengesellschaft FI grew its holdings 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 worth $206,000 after acquiring an additional 19,037 shares during the period. Finally, Virtu KCG Holdings LLC grew its holdings 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 worth $273,000 after acquiring an additional 71,688 shares during the period.
Shares of Asanko Gold Inc. (NYSEAMERICAN AKG) traded down $0.09 during mid-day trading on Wednesday, hitting $0.69. 2,543,700 shares of the stock traded hands, compared to its average volume of 1,858,692. Asanko Gold Inc. has a twelve month low of $0.67 and a twelve month high of $3.90.
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A number of equities research analysts recently issued reports on AKG shares. Zacks Investment Research raised Asanko Gold from a “sell” rating to a “buy” rating and set a $1.00 target price on the stock in a research note on Wednesday, October 4th. UBS AG lowered Asanko Gold from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 14th. ValuEngine lowered Asanko Gold from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Asanko Gold in a research note on Tuesday, November 14th. Finally, Scotiabank lowered Asanko Gold from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.25.
Asanko Gold 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.
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