Mako Mining (NASDAQ:MAKO) Shares Gap Down - Here's What Happened

Key Points

• Mako Mining shares opened lower, falling from the previous close of $9.98 to $9.46 before last trading at $9.5690 on volume of 9,184 shares.
• Analyst views were mixed: Wall Street Zen downgraded the stock to “hold,” while Weiss Ratings upgraded it to “buy (b)” and Zacks Research moved it to “hold.” The consensus rating remains “Moderate Buy.”
• Mako reported quarterly EPS of $0.26 on revenue of $68.59 million, with a 25.11% net margin and 34.25% return on equity. Public Employees Retirement System of Ohio also increased its stake by 61.5% during the second quarter.

Shares of Mako Mining Corp. (NASDAQ:MAKO - Get Free Report) gapped down before the market opened on Tuesday. The stock had previously closed at $9.98, but opened at $9.46. Mako Mining shares last traded at $9.5690, with a volume of 9,184 shares.

Analyst Upgrades and Downgrades

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

Mako Mining Stock Up 0.4%

The business has a 50-day moving average of $9.44. The company has a market capitalization of $829.23 million and a P/E ratio of 23.10.

Mako Mining (NASDAQ:MAKO - Get Free Report) last released its earnings results on Friday, May 15th. The company reported $0.26 earnings per share (EPS) for the quarter. Mako Mining had a return on equity of 34.25% and a net margin of 25.11%.The business had revenue of $68.59 million for the quarter. As a group, research analysts expect that Mako Mining Corp. will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Mako Mining

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio grew its position in Mako Mining Corp. (NASDAQ:MAKO - Free Report) by 61.5% during the 2nd quarter, according to the company in its most recent disclosure 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 period. Public Employees Retirement System of Ohio's holdings in Mako Mining were worth $185,000 at the end of the most recent quarter.

About Mako Mining

Mako Mining Corp. is a gold mining and exploration company focused on the acquisition, development and operation of mineral properties in Nicaragua. The company's principal asset is the San Albino Gold Project in the Nueva Segovia region, a historically productive gold-mining district.

San Albino includes the San Albino and Las Conchitas deposits, where Mako conducts mining, processing and exploration activities. The company's operations are centered on producing gold and expanding its resource base through exploration and development of nearby mineralized zones.

Mako Mining was formed through the consolidation of assets formerly associated with Marlin Gold Mining.

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