Asanko Gold Inc Stock Price Gaps Up Today; Buyers Are Thriving

 Asanko Gold Inc Stock Price Gaps Up Today; Buyers Are Thriving

The stock of Asanko Gold Inc (TSE:AKG) gapped up by $0.03 today and has $7.86 target or 50.00% above today’s $5.24 share price. The 5 months technical chart setup indicates low risk for the $1.05B company. The gap was reported on Nov, 1 by Barchart.com. If the $7.86 price target is reached, the company will be worth $525.00M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 837,633 shares traded hands. Asanko Gold Inc (TSE:AKG) has risen 84.01% since March 28, 2016 and is uptrending. It has outperformed by 81.00% the S&P500.

Asanko Gold Inc (TSE:AKG) Ratings Coverage

Out of 3 analysts covering Asanko Gold (TSE:AKG), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Asanko Gold has been the topic of 11 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Tuesday, December 22 with “Outperform”. BMO Capital Markets maintained Asanko Gold Inc (TSE:AKG) on Friday, September 16 with “Outperform” rating. Scotia Capital maintained Asanko Gold Inc (TSE:AKG) on Friday, October 14 with “Outperform” rating.

More notable recent Asanko Gold Inc (TSE:AKG) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on March 04, 2013, also Business.Financialpost.com with their article: “Hedge fund claims 90% downside potential at Asanko Gold” published on June 29, 2016, Seekingalpha.com published: “Asanko Gold: More Upside On The Horizon” on October 19, 2016. More interesting news about Asanko Gold Inc (TSE:AKG) were released by: Seekingalpha.com and their article: “Asanko Gold: Mining Ahead, But Falling Further Behind” published on October 21, 2016 as well as Seekingalpha.com‘s news article titled: “Asanko Gold Will Continue Outperforming Peers – Here’s Why” with publication date: September 27, 2016.

Asanko Gold Inc. is an exploration and development-stage company. The company has a market cap of $1.05 billion. The Firm is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. It currently has negative earnings. The Company’s segment is the exploration and development of resource properties.

AKG.TO Company Profile

Asanko Gold Inc. (Asanko), incorporated on October 23, 1999, is an exploration and development-stage company. The Firm is focused on advancing its principal project, the Asanko Gold Mine, to commercial production. The Company’s segment is the exploration and development of resource properties. In addition to its principal project, the Company holds a portfolio of other Ghanaian gold concessions in various stages of exploration. The Company’s subsidiaries include Keegan Resources (Ghana) Limited Ghana (Asanko Ghana), Adansi Gold Company (GH) Limited (Adansi Ghana), Asanko Gold South Africa (PTY) Ltd., Asanko International (Barbados) Inc., Asanko Gold (Barbados) Inc. and PMI Gold Corporation (PMI). PMI is a resource exploration and development firm which, through its subsidiaries, holds exploration and mining leases in the Ashanti and Asankrangwa Gold Belts of Ghana, Africa. PMI’s principal project is a gold development project, the Obotan Gold Project, which has been combined with the Company’s principal project, the Esaase Gold Project, to form the Asanko Gold Mine.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment