Asanko Gold Inc. (TSE:AKG) (NYSEMKT:AKG)’s share price fell 0% on Thursday . The company traded as low as C$0.76 and last traded at C$0.79. 389,325 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,247,600 shares. The stock had previously closed at C$0.79.
A number of brokerages have recently weighed in on AKG. Royal Bank Of Canada cut their target price on Asanko Gold from C$1.75 to C$1.00 and set a “sector perform” rating on the stock in a research note on Monday. Canaccord Genuity boosted their target price on Asanko Gold from C$2.25 to C$2.50 in a research note on Friday, September 29th. Clarus Securities downgraded Asanko Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Raymond James Financial downgraded Asanko Gold from an “outperform” rating to a “market perform” rating and cut 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 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. Six analysts have rated the stock with a hold rating, Asanko Gold currently has an average rating of “Hold” and a consensus price target of C$1.98.
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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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