Zacks Investment Research upgraded shares of Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) from a sell rating to a buy rating in a research note published on Wednesday morning. They currently have $1.00 target price on the basic materials company’s stock.

According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “

AKG has been the subject of several other research reports. BidaskClub upgraded shares of Asanko Gold from a strong sell rating to a sell rating in a research note on Wednesday, July 12th. CIBC downgraded shares of Asanko Gold from a sector perform rating to a sector underperform rating in a research note on Friday, August 4th. Raymond James Financial, Inc. reiterated an outperform rating on shares of Asanko Gold in a research note on Friday, August 4th. Clarus Securities downgraded shares of Asanko Gold from a buy rating to a hold rating in a research note on Friday, August 4th. Finally, Scotiabank downgraded shares of Asanko Gold from a sector outperform rating to a sector perform rating in a research note on Wednesday, August 9th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Asanko Gold has an average rating of Hold and an average target price of $4.50.

Shares of Asanko Gold (NYSEMKT AKG) opened at 1.01 on Wednesday. Asanko Gold has a 12-month low of $0.77 and a 12-month high of $4.17. The firm has a 50-day moving average of $1.06 and a 200-day moving average of $1.66. The company has a market cap of $205.48 million, a P/E ratio of 19.06 and a beta of 1.05.

COPYRIGHT VIOLATION NOTICE: This article was published by Watch List News and is owned by of Watch List News. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://www.watchlistnews.com/asanko-gold-inc-akg-raised-to-buy-at-zacks-investment-research/1614863.html.

A number of institutional investors have recently made changes to their positions in AKG. Tudor Investment Corp ET AL bought a new stake in Asanko Gold during the second quarter valued at approximately $138,000. Royal Bank of Canada lifted its position in Asanko Gold by 37.9% during the second quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 24,758 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in Asanko Gold by 16.5% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 134,627 shares of the basic materials company’s stock valued at $206,000 after purchasing an additional 19,037 shares during the last quarter. Virtu KCG Holdings LLC lifted its position in Asanko Gold by 67.1% during the second quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock valued at $273,000 after purchasing an additional 71,688 shares during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in Asanko Gold during the second quarter valued at approximately $278,000.

Asanko Gold Company 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.

Get a free copy of the Zacks research report on Asanko Gold (AKG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

Receive News & Ratings for Asanko Gold Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asanko Gold Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.