H.C. Wainwright Keeps a Buy Rating on Asanko Gold (AKG)

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Asanko Gold (AKGResearch Report) today and set a price target of $2.20. The company’s shares closed last Monday at $0.88.

According to TipRanks.com, Ihle is a 3-star analyst with an average return of 0.9% and a 42.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, First Majestic Silver, and Golden Star Resources.

Currently, the analyst consensus on Asanko Gold is a Moderate Buy with an average price target of $2.20.

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Based on Asanko Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $148 million. In comparison, last year the company had a GAAP net loss of $867K.

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Asanko Gold, Inc. is engaged in the acquisition and exploration of mineral resources in West Ghana. Its projects include Esaase Gold and Asumura Gold. The company was founded by Ivan James Bebek and Shawn Kristen Wallace on September 23, 1999 and is headquartered in Vancouver, Canada.