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

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Shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) passed 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 topic of several research reports. Zacks Investment Research raised shares of Asanko Gold from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a report on Friday, August 2nd. HC Wainwright set a $2.00 price target on shares of Asanko Gold and gave the stock a “buy” rating in a report on Thursday, July 11th.

Asanko Gold (NYSEAMERICAN:AKG) (TSE:AKG) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.05. The business had revenue of $85.72 million for the quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC raised its position in shares of Asanko Gold by 178.7% in the second quarter. Jane Street Group LLC now owns 145,122 shares of the basic materials company’s stock worth $91,000 after acquiring an additional 93,051 shares during the period. Millennium Management LLC raised its position in shares of Asanko Gold by 48.0% in the fourth 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 period. JPMorgan Chase & Co. raised its position in shares of Asanko Gold by 63.1% in the second quarter. JPMorgan Chase & Co. now owns 493,800 shares of the basic materials company’s stock worth $316,000 after acquiring an additional 191,100 shares during the period. Loews Corp raised its position in shares of Asanko Gold by 30.3% in the first quarter. Loews Corp now owns 3,228,506 shares of the basic materials company’s stock worth $2,032,000 after acquiring an additional 750,127 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Asanko Gold by 15.9% in the second quarter. Renaissance Technologies LLC now owns 5,849,336 shares of the basic materials company’s stock worth $3,658,000 after acquiring an additional 803,716 shares during the period.

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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