Asanko Gold (NYSEAMERICAN:AKG) Stock Price Passes Below 200-Day Moving Average of $0.00

Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as low as $0.84. Asanko Gold shares last traded at $0.86, with a volume of 51,501 shares trading hands.

AKG has been the subject of several analyst reports. Zacks Investment Research raised shares of Asanko Gold from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research note on Friday, August 2nd. HC Wainwright set a $2.00 price target on shares of Asanko Gold and gave the company a “buy” rating in a research note on Thursday, July 11th.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.05. The company had revenue of $85.72 million during the quarter.

Hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Asanko Gold by 48.0% in the 4th quarter. Millennium Management LLC now owns 409,888 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 133,005 shares during the last quarter. Jane Street Group LLC lifted its holdings in Asanko Gold by 17.9% during the 4th quarter. Jane Street Group LLC now owns 159,953 shares of the basic materials company’s stock worth $102,000 after buying an additional 24,240 shares in the last quarter. Ruffer LLP lifted its holdings in Asanko Gold by 1.3% during the 1st quarter. Ruffer LLP now owns 19,722,289 shares of the basic materials company’s stock worth $12,560,000 after buying an additional 246,200 shares in the last quarter. Loews Corp lifted its holdings in Asanko Gold by 30.3% during the 1st quarter. Loews Corp now owns 3,228,506 shares of the basic materials company’s stock worth $2,032,000 after buying an additional 750,127 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Asanko Gold by 15.9% during the 2nd quarter. Renaissance Technologies LLC now owns 5,849,336 shares of the basic materials company’s stock worth $3,658,000 after buying an additional 803,716 shares in the last quarter.

Asanko Gold Company Profile (NYSEAMERICAN:AKG)

Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.

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