Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) had its target price raised by HC Wainwright from $1.60 to $2.20 in a report released on Monday morning, AnalystRatings.com reports. They currently have a buy rating on the basic materials company’s stock.

“We maintain our Buy recommendation and increase our price target from $1.60 per share to $2.20 per share. Our increased PT is almost exclusively the result of the aforementioned price deck revision, with no other notable changes to our model.”,” HC Wainwright’s analyst wrote.

Separately, Zacks Investment Research upgraded shares of Asanko Gold from a hold rating to a buy rating and set a $1.00 price objective for the company in a report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $1.60.

Shares of NYSEAMERICAN AKG opened at $0.87 on Monday. Asanko Gold has a 52-week low of $0.50 and a 52-week high of $1.10.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.05. The firm had revenue of $85.72 million for the quarter.

A number of hedge funds and other institutional investors have recently modified their holdings of AKG. Sun Valley Gold LLC grew its holdings in Asanko Gold by 23.7% during the second quarter. Sun Valley Gold LLC now owns 24,578,047 shares of the basic materials company’s stock valued at $15,582,000 after purchasing an additional 4,704,909 shares during the period. Ruffer LLP lifted its stake in Asanko Gold by 4.6% in the second quarter. Ruffer LLP now owns 20,626,089 shares of the basic materials company’s stock valued at $13,078,000 after buying an additional 903,800 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in Asanko Gold by 3.9% in the second quarter. Donald Smith & CO. Inc. now owns 21,802,567 shares of the basic materials company’s stock valued at $13,633,000 after buying an additional 809,259 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Asanko Gold by 15.9% in the second quarter. Renaissance Technologies LLC now owns 5,849,336 shares of the basic materials company’s stock valued at $3,658,000 after buying an additional 803,716 shares in the last quarter. Finally, Loews Corp lifted its stake in Asanko Gold by 30.3% in the first quarter. Loews Corp now owns 3,228,506 shares of the basic materials company’s stock valued at $2,032,000 after buying an additional 750,127 shares in the last quarter.

Asanko Gold Company Profile

Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.

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