Mako Mining Corp. (NASDAQ:MAKO – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 72,006 shares, an increase of 71.9% from the July 30th total of 41,891 shares. Based on an average trading volume of 232,613 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.
Hedge Funds Weigh In On Mako Mining
A hedge fund recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio increased its position in shares of Mako Mining Corp. (NASDAQ:MAKO – Free Report) by 61.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.
Wall Street Analyst Weigh In
MAKO has been the subject of a number of recent analyst reports. 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. Zacks Research raised Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen cut Mako Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. 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 company has an average rating of “Moderate Buy”.
Mako Mining Price Performance
Shares of NASDAQ MAKO traded down $0.24 during midday trading on Monday, hitting $9.95. The company had a trading volume of 66,803 shares, compared to its average volume of 142,817. Mako Mining has a twelve month low of $4.35 and a twelve month high of $11.10. The firm has a 50-day simple moving average of $8.33. The firm has a market cap of $871.62 million and a price-to-earnings ratio of 24.27.
Mako Mining (NASDAQ:MAKO – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported $0.26 earnings per share for the quarter. Mako Mining had a net margin of 25.11% and a return on equity of 34.25%. The company had revenue of $68.59 million for the quarter. Research analysts forecast that Mako Mining will post 0.77 earnings per share for the current fiscal year.
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.
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