RBC Capital Downgrades Asanko Gold Inc to Sector Perform

Brokerage firm RBC Capital Downgrades its rating on Asanko Gold Inc(NYSEMKT:AKG). The shares have been rated Sector Perform. Previously, the analysts had a Outperform rating on the shares. The rating by RBC Capital was issued on Jun 9, 2016.

In a different note, On Jun 6, 2016, Canaccord Genuity said it Upgrades its rating on Asanko Gold Inc. The shares have been rated ‘Buy’ by the firm.

Asanko Gold Inc (AKG) made into the market gainers list on Wednesdays trading session with the shares advancing 3.70% or 0.15 points. Due to strong positive momentum, the stock ended at $4.2, which is also near the day’s high of $4.27. The stock began the session at $4.05 and the volume stood at 17,50,975 shares. The 52-week high of the shares is $4.53 and the 52 week low is $1.27. The company has a current market capitalization of $828 M and it has 19,70,33,110 shares in outstanding.

Asanko Gold Inc. (Asanko) is a Canada-based exploration and development stage company. The Company’s 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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