Asanko Gold Inc. (AKG) Downgraded to “Hold” at Canaccord Genuity

Canaccord Genuity cut shares of Asanko Gold Inc. (NYSEAMERICAN:AKG) (TSE:AKG) from a buy rating to a hold rating in a report published on Monday morning. Canaccord Genuity currently has $1.00 price target on the basic materials company’s stock.

AKG has been the topic of a number of other reports. Zacks Investment Research raised shares of Asanko Gold from a sell rating to a hold rating in a research report on Wednesday, September 13th. Royal Bank Of Canada reissued a hold rating and set a $1.75 price target on shares of Asanko Gold in a research report on Monday, October 23rd. Clarus Securities raised shares of Asanko Gold from a hold rating to a buy rating in a research report on Monday, November 6th. Raymond James Financial, Inc. restated an outperform rating on shares of Asanko Gold in a report on Friday, August 4th. Finally, CIBC lowered shares of Asanko Gold from a sector perform rating to a sector underperform rating in a report on Friday, August 4th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $3.25.

Asanko Gold (NYSEAMERICAN:AKG) opened at $0.78 on Monday. Asanko Gold has a 52-week low of $0.75 and a 52-week high of $3.90.

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Hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL acquired a new stake in Asanko Gold in the 2nd quarter valued at $138,000. Royal Bank of Canada increased its stake in Asanko Gold by 37.9% in 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 during the last quarter. KCG Holdings Inc. increased its stake in Asanko Gold by 102.8% in the 1st quarter. KCG Holdings Inc. now owns 106,842 shares of the basic materials company’s stock valued at $279,000 after buying an additional 54,148 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Asanko Gold by 16.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 134,627 shares of the basic materials company’s stock valued at $206,000 after buying an additional 19,037 shares during the last quarter. Finally, Credit Suisse AG increased its stake in Asanko Gold by 7.3% in the 1st quarter. Credit Suisse AG now owns 152,556 shares of the basic materials company’s stock valued at $397,000 after buying an additional 10,377 shares during 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 (NYSEAMERICAN:AKG)

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