Asanko Gold (AKG) Trading -2.6% Higher Following Analyst Upgrade

Asanko Gold Inc (TSE:AKG) (NYSEMKT:AKG) traded up 2.6% during trading on Monday after Canaccord Genuity raised their price target on the stock from C$1.00 to C$1.20. The stock traded as high as C$1.21 and last traded at C$1.11. 2,310,778 shares traded hands during trading, an increase of 138% from the average session volume of 972,377 shares. The stock had previously closed at C$1.14.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada decreased their target price on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating for the company in a research note on Monday, December 4th. Clarus Securities cut Asanko Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Raymond James Financial cut Asanko Gold from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$3.50 to C$3.00 in a research note on Tuesday, November 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a C$2.00 target price on shares of Asanko Gold in a research note on Friday, October 20th. Six investment analysts have rated the stock with a hold rating, Asanko Gold currently has a consensus rating of “Hold” and a consensus target price of C$2.01.

The company has a market cap of $225.50, a P/E ratio of 55.50 and a beta of -0.51.

Asanko Gold (TSE:AKG) (NYSEMKT:AKG) last announced its quarterly earnings results on Friday, November 3rd. The company reported C$0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.01 by C$0.02. Asanko Gold had a return on equity of 0.64% and a net margin of 2.11%.

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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.

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