Asanko Gold Inc (AKG) Given Consensus Rating of “Hold” by Brokerages

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Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) has received an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company.

A number of research firms have weighed in on AKG. Zacks Investment Research cut Asanko Gold from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Canaccord Genuity restated a “hold” rating on shares of Asanko Gold in a report on Monday, October 22nd.

NYSEAMERICAN AKG traded down $0.03 on Friday, reaching $0.73. The company had a trading volume of 82,788 shares, compared to its average volume of 648,255. Asanko Gold has a 1 year low of $0.43 and a 1 year high of $1.38.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last released its quarterly earnings results on Thursday, November 8th. The basic materials company reported ($0.01) earnings per share for the quarter. The business had revenue of $30.67 million during the quarter.

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Asanko Gold by 4.3% during the 2nd quarter. Van ECK Associates Corp now owns 11,414,103 shares of the basic materials company’s stock valued at $12,213,000 after buying an additional 475,728 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Asanko Gold by 68.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,986,000 shares of the basic materials company’s stock valued at $2,144,000 after buying an additional 806,300 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in shares of Asanko Gold by 1.4% during the 2nd quarter. Donald Smith & CO. Inc. now owns 20,415,757 shares of the basic materials company’s stock valued at $21,845,000 after buying an additional 284,309 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Asanko Gold by 155.6% during the 1st quarter. Millennium Management LLC now owns 369,795 shares of the basic materials company’s stock valued at $370,000 after buying an additional 225,095 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Asanko Gold during the 2nd quarter valued at approximately $302,000.

About Asanko Gold

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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