Company Shares of Asanko Gold Rally 2.7%

Asanko Gold (NYSEMKT:AKG) has climbed 2.7% in the past week and advanced 17.75% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 3.93% and the outperformance has advanced to 16.67% for the last 4 weeks period.

Asanko Gold (NYSEMKT:AKG): The stock opened at $4.29 on Friday but the bulls could not build on the opening and the stock topped out at $4.29 for the day. The stock traded down to $3.90 during the day, due to lack of any buying support eventually closed down at $4.18 with a loss of -0.71% for the day. The stock had closed at $4.21 on the previous day. The total traded volume was 21,737,977 shares.

The company shares have rallied 128.42% from its 1 Year high price. On Jun 13, 2016, the shares registered one year high at $4.53 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $3.53 and the 200 Day Moving Average price is recorded at $2.31.

Many analysts have stated their opinion on the company shares. RBC Capital downgrades its rating on Asanko Gold (NYSEMKT:AKG). Analysts at the RBC Capital have a current rating of Sector Perform on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 9, 2016. Institutional Investors own 41.98% of Asanko Gold shares.

Asanko Gold Inc. (Asanko) is a Canada-based exploration and development stage company. The Companys primary asset is its Asanko Gold Mine Project located on the Asankrangwa gold belt in Ghana. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration. The Asanko Gold Mine Project is located in the Amansie West district of the Ashanti region of Ghana, approximately 250 kilometer northwest of the capital Accra, and about 50 to 80 kilometer southwest of the regional capital of Kumasi. The Company is developing Asanko Gold Mine Project in two Phases. The Phase I consists of Nkran pit, which accounts for 85% of the Phase I ore reserves, and four satellite deposits, Abore, Asuadai, Dynamite Hill and Adubiaso.

Leave a Reply

Erik Bernstein - Is it time to Sell?

Top Brokerage Firms are advising their investors on Erik Bernstein. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.