Asanko Gold (AKG) Shares Gap Up to $0.75

Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) shares gapped up prior to trading on Friday . The stock had previously closed at $0.72, but opened at $0.75. Asanko Gold shares last traded at $0.82, with a volume of 2362518 shares changing hands.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Asanko Gold from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Canaccord Genuity downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating and set a $1.00 price target for the company. in a report on Monday, November 20th. Raymond James Financial reissued a “market perform” rating on shares of Asanko Gold in a report on Tuesday, November 14th. UBS Group downgraded shares of Asanko Gold from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 14th. Finally, Clarus Securities raised shares of Asanko Gold from a “hold” rating to a “buy” rating in a report on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Asanko Gold presently has an average rating of “Hold” and an average target price of $1.25.

The firm has a market cap of $169.06, a PE ratio of 41.30 and a beta of 0.07.

Institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in shares of Asanko Gold during the 2nd quarter valued at $138,000. Royal Bank of Canada raised its position in shares of Asanko Gold by 37.9% during the 2nd quarter. Royal Bank of Canada now owns 90,148 shares of the basic materials company’s stock valued at $138,000 after buying an additional 24,758 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Asanko Gold during the 3rd quarter valued at $161,000. Virtu KCG Holdings LLC raised its position in shares of Asanko Gold by 67.1% during the 2nd quarter. Virtu KCG Holdings LLC now owns 178,530 shares of the basic materials company’s stock valued at $273,000 after buying an additional 71,688 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of Asanko Gold during the 2nd quarter valued at $278,000.

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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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