Asanko Gold (AKG) Stock Price Down 5.5%

Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) traded down 5.5% during mid-day trading on Thursday . The company traded as low as C$1.20 and last traded at C$1.20. 231,877 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 783,253 shares. The stock had previously closed at C$1.27.

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets restated a “market perform” rating and issued a C$2.00 target price on shares of Asanko Gold in a research note on Friday, October 20th. Clarus Securities downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Canaccord Genuity boosted their price objective on shares of Asanko Gold from C$1.00 to C$1.20 in a research report on Friday, January 19th. Raymond James Financial downgraded shares of Asanko Gold from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from C$3.50 to C$3.00 in a research report on Tuesday, November 14th. Finally, Royal Bank of Canada lowered their price objective on shares of Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating for the company in a research report on Monday, December 4th. Six analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of C$2.01.

The firm has a market capitalization of $258.75, a PE ratio of 61.50 and a beta of -0.17.

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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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