Mako Mining (NASDAQ:MAKO) Sets New 12-Month High - What's Next?

Key Points

• Mako Mining reached a new 52-week high of $10.94, up from its previous close of $10.54, while its market capitalization stood at approximately $958.34 million.
• Analyst sentiment is mixed but leans positive: one analyst rates the stock Buy and another Hold, resulting in a “Moderate Buy” consensus. Recent rating changes included upgrades from Zacks Research and Weiss Ratings, alongside a downgrade from Wall Street Zen.
• Mako reported quarterly earnings of $0.26 per share on $68.59 million in revenue, with a 25.11% net margin and 34.25% return on equity. The Ohio public employees’ retirement system also increased its stake by 61.5% during the second quarter.

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

Wall Street Analysts Forecast Growth

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

Mako Mining Stock Up 3.8%

The stock has a market cap of $958.34 million and a price-to-earnings ratio of 26.68. The company has a 50 day moving average price of $8.12.

Mako Mining (NASDAQ:MAKO - Get Free Report) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.26 earnings per share for the quarter. The company had revenue of $68.59 million for the quarter. Mako Mining had a return on equity of 34.25% and a net margin of 25.11%. Analysts predict that Mako Mining Corp. will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Mako Mining

An institutional investor recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio grew its stake in Mako Mining Corp. (NASDAQ:MAKO - Free Report) by 61.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the company's stock after acquiring an additional 9,600 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Mako Mining were worth $185,000 at the end of the most recent quarter.

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.

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