Asanko Gold Inc (NYSEMKT:AKG) (TSE:AKG) has been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $5.00.

Several analysts recently weighed in on AKG shares. Zacks Investment Research upgraded Asanko Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, September 13th. ValuEngine downgraded Asanko Gold from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Scotiabank downgraded Asanko Gold from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, August 9th. Clarus Securities downgraded Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Raymond James Financial, Inc. restated an “outperform” rating on shares of Asanko Gold in a research note on Friday, August 4th.

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Institutional investors have recently made changes to their positions in the stock. Sprott Inc. raised its holdings in Asanko Gold by 0.5% in the 2nd quarter. Sprott Inc. now owns 4,531,679 shares of the basic materials company’s stock worth $6,933,000 after purchasing an additional 21,898 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in Asanko Gold by 303.4% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 115,590 shares of the basic materials company’s stock worth $302,000 after purchasing an additional 86,936 shares during the period. Renaissance Technologies LLC raised its holdings in Asanko Gold by 139.0% in the 1st quarter. Renaissance Technologies LLC now owns 531,393 shares of the basic materials company’s stock worth $1,389,000 after purchasing an additional 309,093 shares during the period. KCG Holdings Inc. raised its holdings in Asanko Gold by 102.8% in the 1st quarter. KCG Holdings Inc. now owns 106,842 shares of the basic materials company’s stock worth $279,000 after purchasing an additional 54,148 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Asanko Gold by 11.4% in the 1st quarter. Van ECK Associates Corp now owns 41,652,253 shares of the basic materials company’s stock worth $108,729,000 after purchasing an additional 4,276,240 shares during the period.

About Asanko Gold

Asanko Gold Inc is a gold producer. The Company has operations in the Republic of Ghana. The Company’s segments include Canada and Ghana. The Company’s principal asset is the Asanko Gold Mine (AGM) located in Ghana, West Africa. The Company’s Project 5M will upgrade the plant’s throughput to five metric tons per annum and expand mining operations to integrate the Esaase deposit, including the construction of a 27-kilometer overland conveyor.

Analyst Recommendations for Asanko Gold (NYSEMKT:AKG)

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