Mako Mining Corp. (NASDAQ:MAKO) Short Interest Up 71.9% in August

Mako Mining Corp. (NASDAQ:MAKO) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 72,006 shares, a growth of 71.9% from the July 30th total of 41,891 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 232,613 shares, the short-interest ratio is currently 0.3 days.

Mako Mining Stock Down 3.5%

Shares of MAKO stock traded down $0.35 during trading on Tuesday, hitting $9.71. The company had a trading volume of 58,700 shares, compared to its average volume of 142,833. The business’s 50-day simple moving average is $8.37. The firm has a market cap of $850.16 million and a PE ratio of 23.67. Mako Mining has a 52 week low of $4.50 and a 52 week high of $11.10.

Mako Mining (NASDAQ:MAKO) last announced its earnings results on Friday, May 15th. The company reported $0.26 earnings per share (EPS) for the quarter. The business had revenue of $68.59 million during the quarter. Mako Mining had a net margin of 25.11% and a return on equity of 34.25%. On average, research analysts anticipate that Mako Mining will post 0.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MAKO shares. Zacks Research upgraded Mako Mining to a “hold” rating in a report on Wednesday, June 17th. Weiss Ratings raised Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen cut Mako Mining from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio raised its position in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the company’s stock after purchasing an additional 9,600 shares during the period. Public Employees Retirement System of Ohio’s holdings in Mako Mining were worth $185,000 at the end of the most recent reporting period.

Mako Mining Company Profile

Mako Mining Corp. is a gold mining company focused on the acquisition, exploration, and development of precious metals assets. The company’s work centers on advancing mining projects and operating producing assets, with an emphasis on generating gold from its portfolio of properties.

The company is based in Canada and has operated in Central America, including Nicaragua, where it has developed and worked on mining assets. Mako Mining’s business activities typically include mine development, mineral exploration, and the processing and sale of gold production from its operations.

Mako Mining was formed through the combination of mining assets and management expertise from earlier-stage precious metals ventures.