Asanko Gold (TSE:AKG) (NYSEMKT:AKG) had its price target cut by equities researchers at Royal Bank of Canada from C$1.75 to C$1.00 in a research note issued on Monday, December 4th. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 12.36% from the stock’s current price.
Several other analysts have also weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a C$2.00 price objective on shares of Asanko Gold in a report on Friday, October 20th. Clarus Securities lowered Asanko Gold from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Canaccord Genuity lowered Asanko Gold from a “buy” rating to a “hold” rating and lowered their price objective for the company from C$2.50 to C$1.00 in a report on Monday, November 20th. Finally, Raymond James Financial lowered 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 report on Tuesday, November 14th. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of C$1.98.
Asanko Gold (TSE:AKG) traded up C$0.04 during midday trading on Monday, reaching C$0.89. 1,135,300 shares of the company’s stock were exchanged, compared to its average volume of 1,265,090. Asanko Gold has a 52-week low of C$0.55 and a 52-week high of C$5.07. The company has a market cap of $172.46, a P/E ratio of 44.50 and a beta of -0.51.
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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