Asanko Gold Inc (NYSEMKT:AKG) Raised to Sell at BidaskClub

BidaskClub upgraded shares of Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) from a strong sell rating to a sell rating in a report issued on Wednesday morning.

AKG has been the subject of a number of other reports. ValuEngine raised shares of Asanko Gold from a sell rating to a hold rating in a research note on Thursday, June 1st. UBS AG raised shares of Asanko Gold from an outperform rating to a strong-buy rating in a research note on Wednesday, April 5th. Clarus Securities reissued a buy rating on shares of Asanko Gold in a research note on Friday, May 5th. Finally, Raymond James Financial, Inc. raised shares of Asanko Gold from an outperform rating to a strong-buy rating in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $5.33.

Asanko Gold (AKG) opened at 1.62 on Wednesday. The stock’s 50 day moving average is $1.75 and its 200-day moving average is $2.62. The stock’s market capitalization is $329.59 million. Asanko Gold has a 52-week low of $1.28 and a 52-week high of $4.68.

Asanko Gold (NYSEMKT:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, May 4th. The basic materials company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Asanko Gold had a net margin of 11.83% and a return on equity of 7.42%. The business had revenue of $66.05 million during the quarter. Equities research analysts anticipate that Asanko Gold will post $0.13 EPS for the current fiscal year.

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Several institutional investors have recently added to or reduced their stakes in the company. KCG Holdings Inc. boosted its position in Asanko Gold by 102.8% in the first quarter. KCG Holdings Inc. now owns 106,842 shares of the basic materials company’s stock worth $279,000 after buying an additional 54,148 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Asanko Gold by 303.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 115,590 shares of the basic materials company’s stock worth $302,000 after buying an additional 86,936 shares in the last quarter. Credit Suisse AG boosted its position in Asanko Gold by 7.3% in the first quarter. Credit Suisse AG now owns 152,556 shares of the basic materials company’s stock worth $397,000 after buying an additional 10,377 shares in the last quarter. Bank of America Corp DE boosted its position in Asanko Gold by 372.5% in the first quarter. Bank of America Corp DE now owns 243,596 shares of the basic materials company’s stock worth $636,000 after buying an additional 192,037 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Asanko Gold by 139.0% in the first quarter. Renaissance Technologies LLC now owns 531,393 shares of the basic materials company’s stock worth $1,389,000 after buying an additional 309,093 shares in the last quarter.

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.

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

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