Zacks Investment Research Lowers Asanko Gold (AKG) to Hold

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Zacks Investment Research lowered shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “Asanko Gold Inc. is a gold producer with its flagship asset, the Asanko Gold Mine, located in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada. “

Several other research firms have also recently issued reports on AKG. Canaccord Genuity reiterated a hold rating on shares of Asanko Gold in a research note on Monday, October 22nd. BMO Capital Markets reiterated a hold rating on shares of Asanko Gold in a research note on Monday, December 17th.

AKG opened at $0.70 on Wednesday. Asanko Gold has a 12 month low of $0.56 and a 12 month high of $1.38.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last released its quarterly earnings data on Thursday, November 8th. The basic materials company reported ($0.01) EPS for the quarter. The company had revenue of $30.67 million for the quarter.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its stake in Asanko Gold by 168.9% in the 3rd quarter. Jane Street Group LLC now owns 135,713 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 85,241 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Asanko Gold by 2.4% during the 3rd quarter. Franklin Resources Inc. now owns 13,228,575 shares of the basic materials company’s stock valued at $10,439,000 after buying an additional 315,000 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Asanko Gold by 9.0% during the 3rd quarter. Renaissance Technologies LLC now owns 4,250,309 shares of the basic materials company’s stock valued at $3,430,000 after buying an additional 350,209 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in shares of Asanko Gold by 4.0% during the 3rd quarter. Donald Smith & CO. Inc. now owns 21,232,924 shares of the basic materials company’s stock valued at $17,135,000 after buying an additional 817,167 shares in the last quarter.

Asanko Gold Company Profile

Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.

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