In order to elucidate the nature of ferromagnetic signatures observed in (Zn,Co)O we have examined experimentally and theoretically magnetic properties and spin-dependent quantum localization effects that control low-temperature magnetoresistance. Our findings, together with a through structural characterization, substantiate the model assigning spontaneous magnetization of (Zn,Co)O to uncompensated spins at the surface of antiferromagnetic nanocrystal of Co-rich wurtzite (Zn,Co)O. The model explains a large anisotropy observed in both magnetization and magnetoresistance in terms of spin hamiltonian of Co ions in the crystal field of the wurtzite lattice.
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