Asanko Gold (NYSEAMERICAN:AKG) Share Price Crosses Above 50 Day Moving Average of $0.94

Shares of Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.94 and traded as high as $0.94. Asanko Gold shares last traded at $0.93, with a volume of 16,238 shares traded.

Several analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $2.20 target price on shares of Asanko Gold in a research report on Friday, November 8th. Scotiabank began coverage on shares of Asanko Gold in a report on Friday, August 16th. They issued a “hold” rating on the stock. Finally, Zacks Investment Research downgraded shares of Asanko Gold from a “buy” rating to a “hold” rating in a research note on Friday, November 8th.

The stock’s 50-day moving average price is $0.94 and its 200 day moving average price is $0.72.

In other news, insider Schlederer John acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average cost of $0.65 per share, for a total transaction of $32,500.00. Also, insider Campbell Christopher acquired 41,548 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was purchased at an average price of $0.66 per share, with a total value of $27,380.13. In the last three months, insiders purchased 213,032 shares of company stock worth $137,576.

A number of institutional investors have recently modified their holdings of AKG. Millennium Management LLC increased its holdings in shares of Asanko Gold by 5,886.6% in the 3rd quarter. Millennium Management LLC now owns 598,662 shares of the basic materials company’s stock valued at $547,000 after acquiring an additional 588,662 shares during the period. Donald Smith & CO. Inc. raised its position in shares of Asanko Gold by 4.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 22,685,980 shares of the basic materials company’s stock worth $20,751,000 after acquiring an additional 883,413 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Asanko Gold in the 2nd quarter worth $60,000. Jane Street Group LLC lifted its stake in shares of Asanko Gold by 178.7% during the 2nd quarter. Jane Street Group LLC now owns 145,122 shares of the basic materials company’s stock worth $91,000 after purchasing an additional 93,051 shares during the last quarter. Finally, Sun Valley Gold LLC lifted its stake in shares of Asanko Gold by 23.7% during the 2nd quarter. Sun Valley Gold LLC now owns 24,578,047 shares of the basic materials company’s stock worth $15,582,000 after purchasing an additional 4,704,909 shares during 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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