Mako Mining Corp. (NASDAQ:MAKO) Short Interest Down 59.5% in June

Mako Mining Corp. (NASDAQ:MAKO) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 35,219 shares, a drop of 59.5% from the June 15th total of 86,955 shares. Based on an average daily volume of 156,280 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Mako Mining Stock Performance

NASDAQ:MAKO traded up $0.13 on Tuesday, reaching $7.37. 111,609 shares of the stock traded hands, compared to its average volume of 134,289. The firm has a market cap of $645.58 million and a P/E ratio of 28.35. Mako Mining has a 12 month low of $3.62 and a 12 month high of $8.99.

Mako Mining (NASDAQ:MAKO) last issued its earnings results on Friday, May 15th. The company reported $0.26 earnings per share (EPS) for the quarter. The firm had revenue of $68.59 million during the quarter.

Analysts Set New Price Targets

Several research firms recently weighed in on MAKO. Wall Street Zen upgraded Mako Mining to a “strong-buy” rating in a research note on Friday, April 17th. Zacks Research upgraded Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings began coverage on Mako Mining in a report on Thursday, June 18th. They issued a “buy (b-)” rating on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

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.