Mako Mining (NASDAQ:MAKO) Hits New 12-Month High – What’s Next?

Mako Mining Corp. (NASDAQ:MAKO)’s stock price hit a new 52-week high during mid-day 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research upgraded Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings upgraded Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Mako Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Mako Mining Stock Up 1.0%

The stock’s fifty day simple moving average is $8.01. The company has a market capitalization of $919.80 million and a PE ratio of 25.61.

Mako Mining (NASDAQ:MAKO) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.26 earnings per share (EPS) 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%. Equities analysts anticipate that Mako Mining Corp. will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Mako Mining

A hedge fund recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio boosted its position in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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.

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.