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7 Mining Stocks Analysts Expect to Soar

4. Keegan Resources (KGN), an exploration-stage natural resource company, acquires and explores mineral resources in West Ghana, Africa. The company's principal and material properties consist of the Asumura Property and the Esaase Property (3.23 million ounces of gold indicated resources), both in West Ghana. The company also holds a portfolio of other Ghanaian gold concessions in various stages of exploration.

Currently, Keegan is focused on advancing a prefeasibility study on its Esaase Gold Project and expects to report results in the first half of 2011. After completing a financing deal recently, led by Canaccord-Genuity and Clarus Securities, Keegan has accumulated $234 million in cash.

Keegan Resources recently bought the 10.4 square kilometer Dawohodo prospecting concession from a private Ghanaian company for $1.1 million. The company plans to start surface exploration on the property in preparation for exploratory drilling, enhancing prospects for the development of the Esaase gold deposit project.

All five analysts covering the stock rate it a buy. Analysts polled by Bloomberg expect the stock to gain an average of 48%, to $12.70, in the coming 12 months.
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