Today, Asanko Gold Inc. (AKG) Stock Rating Reaffirm by Scotiabank

Today, Asanko Gold Inc. (AKG) Stock Rating Reaffirm by Scotiabank

Scotiabank reiterated their outperform rating on shares of Asanko Gold Inc. (NYSEMKT:AKG) (TSE:AKG) in a report issued on Wednesday morning. They currently have a $7.50 price target on the stock.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Asanko Gold from a hold rating to a strong-buy rating and set a $4.00 price objective on the stock in a report on Tuesday, November 22nd. BMO Capital Markets restated an outperform rating and set a $6.50 price objective on shares of Asanko Gold in a report on Friday, September 16th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Asanko Gold presently has an average rating of Buy and a consensus target price of $4.72.

Shares of Asanko Gold (NYSEMKT:AKG) opened at 3.64 on Wednesday. The stock’s 50 day moving average price is $3.64 and its 200-day moving average price is $3.94. Asanko Gold has a 12-month low of $1.27 and a 12-month high of $4.68. The company’s market cap is $734.66 million.

Asanko Gold (NYSEMKT:AKG) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by $0.07. On average, equities research analysts forecast that Asanko Gold will post $0.03 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Asanko Gold by 531.3% in the second quarter. Tower Research Capital LLC TRC now owns 24,235 shares of the company’s stock valued at $120,000 after buying an additional 20,396 shares in the last quarter. CIBC World Markets Inc. boosted its stake in shares of Asanko Gold by 12.9% in the second quarter. CIBC World Markets Inc. now owns 31,923 shares of the company’s stock valued at $122,000 after buying an additional 3,660 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Asanko Gold during the second quarter valued at $164,000. Great West Life Assurance Co. Can boosted its stake in shares of Asanko Gold by 46.3% in the third quarter. Great West Life Assurance Co. Can now owns 47,199 shares of the company’s stock valued at $199,000 after buying an additional 14,935 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Asanko Gold by 9.1% in the second quarter. Vanguard Group Inc. now owns 49,534 shares of the company’s stock valued at $189,000 after buying an additional 4,123 shares in the last quarter.

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