Mako Mining (NASDAQ:MAKO) Hits New 12-Month High – Here’s Why

Mako Mining Corp. (NASDAQ:MAKO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.94 and last traded at $10.94, with a volume of 267715 shares traded. The stock had previously closed at $10.54.

Wall Street Analyst Weigh In

MAKO has been the subject of several research reports. Zacks Research upgraded shares of Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings raised Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded Mako Mining from a “strong-buy” rating to a “hold” rating in a research report 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 MarketBeat, the company has a consensus rating of “Moderate Buy”.

Mako Mining Stock Performance

The firm has a market cap of $956.59 million and a PE ratio of 26.63. The stock has a 50 day simple moving average of $8.24.

Mako Mining (NASDAQ:MAKO) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.26 earnings per share (EPS) for the quarter. The company 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, equities analysts anticipate that Mako Mining Corp. will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio grew its stake in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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.