Asanko Gold (AKG) Upgraded at Zacks

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Asanko Gold (NYSE:AKG) was upgraded by Zacks from a “sell” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat reports.

According to Zacks, “Asanko Gold Inc. is engaged in the exploration and development of gold deposits. The company’s projects consist of Esaase project and Asumura project in Ghana, West Africa. Asanko Gold Inc., formerly known as Keegan Resources Inc., is based in Vancouver, Canada.”

AKG has been the subject of a number of other research reports. Canaccord Genuity cut Asanko Gold from a “speculative buy” rating to a “hold” rating and cut their price target for the company from $2.60 to $2.45 in a research note on Tuesday, August 18th.

RBC Capital cut their target price on Asanko Gold from $3.80 to $3.10 and set an “outperform” rating for the company in a research note on Monday. Finally, Scotiabank assumed coverage on shares of Asanko Gold in a report on Tuesday, July 7th. They set an “outperform” rating and a $3.50 price target for the company.

Asanko Gold (NYSE:AKG) traded up 11.33% during midday trading on Friday, reaching $1.67. The company had a trading volume of 171,774 shares. The firm has a 50-day moving average of $1.62 and a 200-day moving average of $1.59. The stock’s market cap is $328.98 million. Asanko Gold has a 12 month low of $1.25 and a 12 month high of $2.55.

Asanko Gold Inc is a natural resource company engaged in the acquisition and exploration of mineral resources in West Ghana. Its mineral properties are in the exploration and development stage. Its primary property is the Esaase project.

The Company is focused on advancing the Esaase Gold Project to commercial production. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration.

As of February 28, 2014, the Company’s material properties consisted of the Asanko Gold Mine project, the Asumura Property and the Diaso Property, all in West Ghana, Africa. In February 2014, Asanko Gold Inc successfully completed the acquisition of PMI Gold Corporation.

To get a free copy of the research report on Asanko Gold (AKG), click here. For more information about research offerings from Zacks Investment Research, visit

Source: Jennifer Langley

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