Brokers Change Their Target Price On Asanko Gold Inc. (AKG)

Ivan Schwartz
June 1, 2017

Last June, Toronto hedge fund K2 & Associates Investment Management Inc took a short position in Asanko, saying its gold resources were overinflated, notably at its Nkran deposit, which Asanko acquired in 2014 from Resolute Mining Ltd. Scotiabank's target price would suggest a potential upside of 128.17% from the company's current price.

Other equities analysts have also recently issued reports about the company. The company presently has a consensus rating of Buy and a consensus target price of C$4.77. For the quarter, shares have been noted at -29.70%.

Asanko Gold Inc is a gold producer. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. ASA Gold & Precious Metals Ltd raised its stake in Asanko Gold by 28.1% in the first quarter. AGF Investments Inc. now owns 4,833,302 shares of the basic materials company's stock valued at $12,670,000 after buying an additional 303,083 shares during the last quarter.

The stock of Asanko Gold Inc (NYSEMKT:AKG) hit a new 52-week low and has $1.82 target or 5.00% below today's $1.92 share price. The company had a trading volume of 207,514 shares. The firm's 50 day moving average is $3.36 and its 200-day moving average is $4.10. The stock's market cap is $380.45 million. BMO Capital Markets decreased their price target on shares of Asanko Gold from C$5.00 to C$4.50 in a report on Friday, March 17th.

Brazilian meatpacker to pay fine of more than $3 billion
The total fine, according to analysts, represents 5.62 percent of the holding's revenues after taxes in 2016. J&F's three previous proposals were rejected and the company replaced its lawyers earlier on Tuesday.

Novak Djokovic and Rafael Nadal advance at French Open
The Spaniard dropped just 14 service points in the match and never faced a break point, while breaking Haase on five occasions. France's Jo-Wilfried Tsonga was back on Court Philippe Chatrier to resume his first-round match against Renzo Olivo .

Winslow Asset Management Inc. Cuts Position in Cisco Systems, Inc. (CSCO)
The company was maintained on Thursday, August 18 by KeyBanc Capital Markets. (NASDAQ:CSCO) rating on Friday, September 23. William Blair reiterated an "outperform" rating on shares of Cisco Systems in a research note on Monday, February 6th.

Asanko Gold (NYSEMKT:AKG) last issued its earnings results on Thursday, May 4th. Clarus Securities analyst N. Sangmuah now expects that the company will post earnings per share of $0.52 for the year, up from their prior estimate of $0.51. Using "company-favorable assumptions", it estimated that Asanko will have a cash shortfall ranging from US$43 million to US$129 million in 2018, the report said, without specifying the currency.

AKG has been the subject of several recent research reports. Zacks Investment Research raised Asanko Gold from a "hold" rating to a "buy" rating and set a $3.50 price objective on the stock in a research report on Thursday, February 16th. Canaccord Genuity lowered Asanko Gold from a "buy" rating to a "hold" rating in a report on Tuesday, February 7th.

06/09/2016 - Asanko Gold Inc. had its "sector perform" rating reiterated by analysts at RBC Capital.

Based on the latest notes released to investors, 1 analyst has issued a rating of "buy", 3 analysts "outperform", 2 analysts "hold", 0 analysts "underperform" and 0 analysts "sell". If the $1.82 price target is reached, the company will be worth $14.94M less.

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER