Mako Mining (NASDAQ:MAKO) Shares Gap Down – What’s Next?

Mako Mining Corp. (NASDAQ:MAKO)’s stock price gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MAKO shares. Zacks Research upgraded Mako Mining to a “hold” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded Mako Mining from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings raised Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Mako Mining has a consensus rating of “Moderate Buy”.

Mako Mining Stock Up 0.4%

The company has a 50 day simple moving average of $9.44. The company has a market capitalization of $829.23 million and a price-to-earnings ratio of 23.10.

Mako Mining (NASDAQ:MAKO) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.26 EPS for the quarter. The firm 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%. Sell-side analysts predict that Mako Mining Corp. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Mako Mining

An institutional investor recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio lifted its position in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 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.