Mako Mining (NASDAQ:MAKO) Shares Gap Up – Here’s Why

Mako Mining Corp. (NASDAQ:MAKO) shares gapped up before the market opened on Thursday . The stock had previously closed at $9.89, but opened at $10.42. Mako Mining shares last traded at $10.1140, with a volume of 19,508 shares trading hands.

Analyst Ratings Changes

Several research firms have weighed in on MAKO. Wall Street Zen downgraded Mako Mining from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Mako Mining to a “hold” rating in a report on Wednesday, June 17th. Finally, 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. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Mako Mining Stock Down 1.6%

The firm’s 50-day moving average is $8.58. The stock has a market cap of $891.77 million and a PE ratio of 24.83.

Mako Mining (NASDAQ:MAKO) last announced its quarterly earnings results 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 net margin of 25.11% and a return on equity of 34.25%. On average, equities analysts forecast that Mako Mining Corp. will post 0.78 EPS for the current year.

Institutional Trading of Mako Mining

An institutional investor recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio lifted its holdings in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 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.