Shares of Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) were up 4.1% during trading on Friday . The company traded as high as C$1.30 and last traded at C$1.28. Approximately 162,130 shares traded hands during trading, a decline of 81% from the average daily volume of 869,114 shares. The stock had previously closed at C$1.23.
A number of analysts have commented on AKG shares. Royal Bank Of Canada decreased their price target on shares of Asanko Gold from C$2.50 to C$2.00 and set a “sector perform” rating for the company in a research note on Thursday, August 31st. Canaccord Genuity boosted their price target on shares of Asanko Gold from C$2.25 to C$2.50 in a research note on Friday, September 29th. Clarus Securities lowered shares of Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. upgraded shares of Asanko Gold from an “outperform” rating to a “strong-buy” rating and decreased their price target for the company from C$4.40 to C$3.50 in a research note on Friday, August 4th. Finally, Scotiabank restated an “outperform” rating and set a C$4.00 price target on shares of Asanko Gold in a research note on Wednesday, June 14th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of C$2.64.
The firm has a market capitalization of $256.35 million and a price-to-earnings ratio of 23.77. The company’s 50 day moving average price is $1.32 and its 200 day moving average price is $2.18.
In other news, Director Groot Marcel H. De acquired 40,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of C$1.49 per share, for a total transaction of C$59,600.00.
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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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