Asanko Gold Inc (AKG) Price Target Cut to C$2.00
Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) had its price objective lowered by stock analysts at Royal Bank Of Canada from C$2.50 to C$2.00 in a research note issued to investors on Thursday. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 30.72% from the stock’s current price.
AKG has been the topic of several other reports. Scotiabank reissued an “outperform” rating and issued a C$4.50 price target on shares of Asanko Gold in a research note on Wednesday, June 7th. CIBC dropped their price target on Asanko Gold from C$4.50 to C$3.85 in a research note on Friday, May 5th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. raised Asanko Gold from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from C$4.40 to C$3.50 in a research note on Friday, August 4th. Finally, BMO Capital Markets reissued a “market perform” rating and issued a C$3.00 price target on shares of Asanko Gold in a research note on Tuesday, June 13th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Asanko Gold currently has a consensus rating of “Buy” and an average price target of C$3.06.
Asanko Gold (AKG) opened at 1.53 on Thursday. The stock has a 50 day moving average of $1.46 and a 200 day moving average of $2.58. Asanko Gold has a 52 week low of $0.99 and a 52 week high of $6.09. The company has a market cap of $311.28 million and a price-to-earnings ratio of 28.87.
In other news, Director Groot Marcel H. De bought 40,000 shares of the stock in a transaction dated Friday, September 1st. The shares were bought at an average cost of C$1.49 per share, with a total value of C$59,600.00. Also, Director Colin Steyn bought 200,000 shares of the stock in a transaction dated Tuesday, June 20th. The shares were purchased at an average cost of C$1.84 per share, for a total transaction of C$368,000.00. Insiders have bought 336,835 shares of company stock worth $594,587 over the last ninety days.
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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