Asanko Gold (NYSEAMERICAN:AKG) Earns Hold Rating from Analysts at Scotiabank

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Scotiabank began coverage on shares of Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) in a report issued on Friday morning, TipRanks reports. The firm issued a hold rating on the basic materials company’s stock.

Several other brokerages also recently issued reports on AKG. Zacks Investment Research raised Asanko Gold from a hold rating to a buy rating and set a $1.00 target price on the stock in a research note on Friday, August 2nd. HC Wainwright restated a buy rating and set a $2.20 price objective (up previously from $1.60) on shares of Asanko Gold in a report on Monday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $1.60.

AKG remained flat at $$0.88 on Friday. 335,398 shares of the company traded hands, compared to its average volume of 448,189. Asanko Gold has a 52-week low of $0.50 and a 52-week high of $1.10.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. The business had revenue of $85.72 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 increased its holdings in shares of Asanko Gold by 178.7% during the 2nd quarter. Jane Street Group LLC now owns 145,122 shares of the basic materials company’s stock worth $91,000 after buying an additional 93,051 shares during the last quarter. Susquehanna International Group LLP purchased a new position in shares of Asanko Gold in the 2nd quarter worth about $60,000. Millennium Management LLC boosted its holdings in shares of Asanko Gold by 48.0% in the 4th quarter. Millennium Management LLC now owns 409,888 shares of the basic materials company’s stock worth $262,000 after buying an additional 133,005 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Asanko Gold by 63.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 493,800 shares of the basic materials company’s stock worth $316,000 after buying an additional 191,100 shares during the last quarter. Finally, Ruffer LLP boosted its holdings in shares of Asanko Gold by 1.3% in the 1st quarter. Ruffer LLP now owns 19,722,289 shares of the basic materials company’s stock worth $12,560,000 after buying an additional 246,200 shares during the last quarter.

About Asanko Gold

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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