Short Term Price Target on Asanko Gold (AKG)

Asanko Gold (NYSEMKT:AKG) : Currently there are 2 street experts covering Asanko Gold (NYSEMKT:AKG) stock. The most bullish and bearish price target for the stock is $4 and $2 respectively for the short term. The average price target of all the analysts comes to $3.09. The estimated standard deviation from the target is $1.15.

Asanko Gold Inc. has dropped 7.52% in the last five trading days, however, the shares have posted positive gains of 14.41% in the last 4 weeks. Asanko Gold Inc. is up 67.84% in the last 3-month period. Year-to-Date the stock performance stands at 160.96%. Also, Equity Analysts at the Brokerage Firm, RBC Capital, downgrades their rating on the shares of Asanko Gold (NYSEMKT:AKG). RBC Capital has a Sector Perform rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on June 9, 2016.

Asanko Gold (NYSEMKT:AKG) : 4 analysts are covering Asanko Gold (NYSEMKT:AKG) and their average rating on the stock is 1.75, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Asanko Gold (NYSEMKT:AKG) also receives 1 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Asanko Gold (NYSEMKT:AKG): The stock opened at $3.70 on Thursday but the bulls could not build on the opening and the stock topped out at $3.90 for the day. The stock traded down to $3.58 during the day, due to lack of any buying support eventually closed down at $3.81 with a loss of -3.79% for the day. The stock had closed at $3.96 on the previous day. The total traded volume was 2,702,163 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.

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