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

Mako Mining Corp. (NASDAQ:MAKO) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $10.30 and last traded at $10.1810, with a volume of 11053 shares trading hands. The stock had previously closed at $9.84.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Mako Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings upgraded Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded Mako Mining to a “hold” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Mako Mining presently has a consensus rating of “Moderate Buy”.

Mako Mining Price Performance

The business’s 50 day simple moving average is $7.89. The firm has a market cap of $900.79 million and a PE ratio of 25.10.

Mako Mining (NASDAQ:MAKO) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.26 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 37.24%. As a group, analysts expect that Mako Mining Corp. will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio raised its stake in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the second 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 purchasing 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 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.