November 23, 2016 - By Linda Rogers
They currently have a $7.50 target price per share on Asanko Gold (TSE:AKG). Scotia Capital’s target would suggest a potential upside of 58.56% from the company’s last stock price. This was shown in an analyst note on Tuesday, 22 November.
Out of 3 analysts covering Asanko Gold (TSE:AKG), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $7.50 is the highest target while $2.50 is the lowest. The $5.58 average target is 17.97% above today’s ($4.73) stock price. Asanko Gold has been the topic of 13 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Scotia Capital given on Friday, October 14. The firm earned “Outperform” rating on Friday, November 4 by Scotia Capital. The firm has “Outperform” rating by BMO Capital Markets given on Friday, September 16. As per Tuesday, December 22, the company rating was maintained by RBC Capital Markets. Scotia Capital maintained the stock with “Outperform” rating in Tuesday, November 22 report.
The stock increased 2.60% or $0.12 on November 22, hitting $4.73. About 1.58M shares traded hands or 33.90% up from the average. Asanko Gold Inc (TSE:AKG) has risen 33.62% since April 19, 2016 and is uptrending. It has outperformed by 28.29% the S&P500.
Asanko Gold Inc. is an exploration and development-stage company. The company has a market cap of $988.03 million. The Firm is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. It currently has negative earnings. The Company’s segment is the exploration and development of resource properties.
According to Zacks Investment Research, “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.”
Asanko Gold Inc. (Asanko), incorporated on October 23, 1999, is an exploration and development-stage company. The Firm is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. The Company’s segment is the exploration and development of resource properties. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration. The Company’s subsidiaries include Keegan Resources (Ghana) Limited Ghana (Asanko Ghana), Adansi Gold Company (GH) Limited (Adansi Ghana), Asanko Gold South Africa (PTY) Ltd., Asanko International (Barbados) Inc., Asanko Gold (Barbados) Inc. and PMI Gold Corporation (PMI). PMI is a resource exploration and development firm which, through its subsidiaries, holds exploration and mining leases in the Ashanti and Asankrangwa Gold Belts of Ghana, Africa. PMI’s principal project is a gold development project, the Obotan Gold Project, which has been combined with the Company’s principal project, the Esaase Gold Project, to form the Asanko Gold Mine.
More recent Asanko Gold Inc (TSE:AKG) news were published by: Business.Financialpost.com which released: “Hedge fund claims 90% downside potential at Asanko Gold” on June 29, 2016. Also Seekingalpha.com published the news titled: “The Long Case For Asanko Gold Inc.” on October 09, 2015. Seekingalpha.com‘s news article titled: “Asanko Gold: More Upside On The Horizon” with publication date: October 19, 2016 was also an interesting one.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.
By Linda Rogers