Mako Mining Corp. (NASDAQ:MAKO) Stock Short Interest Declines 40.4%

Mako Mining Corp. (NASDAQ:MAKO) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 15,578 shares, a decline of 40.4% from the August 31st total of 26,123 shares. Based on an average trading volume of 163,907 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Mako Mining Stock Down 0.5%

Shares of MAKO stock opened at $9.49 on Wednesday. Mako Mining has a one year low of $4.96 and a one year high of $11.10. The company’s fifty day moving average price is $9.49. The company has a market cap of $831.86 million and a P/E ratio of 23.13.

Mako Mining (NASDAQ:MAKO) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.26 earnings per share for the quarter. The business had revenue of $68.59 million during the quarter. Mako Mining had a return on equity of 34.25% and a net margin of 25.11%. As a group, equities analysts expect that Mako Mining will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Mako Mining

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio boosted its stake in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,200 shares of the company’s stock after buying 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 SEC filing.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Mako Mining to a “hold” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Mako Mining from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 15th. 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, Mako Mining currently has a consensus rating of “Moderate Buy”.

About Mako Mining

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.