Asanko Gold Inc. AKG is a gold-mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AKG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Asanko Gold could be a solid choice for investors.

Current Quarter Estimates for AKG

In the past 30 days, 1 estimate has gone higher for Asanko Gold while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 3 cents a share 30 days ago, to a loss of 1 cent today, a move of 66.7%.

Current Year Estimates for AKG

Meanwhile, Asanko Gold’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 7 cents per share 30 days ago to a loss of 4 cents per share today, an increase of 42.9%.

Bottom Line

The stock has also started to move higher lately, adding 17% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.

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