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

Mako Mining Corp. (NASDAQ:MAKO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $9.89, but opened at $10.42. Mako Mining shares last traded at $10.1140, with a volume of 19,508 shares.

Analysts Set New Price Targets

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

Mako Mining Stock Up 4.0%

The company has a 50-day moving average of $8.46. The stock has a market capitalization of $900.70 million and a price-to-earnings ratio of 25.10.

Mako Mining (NASDAQ:MAKO) last issued its earnings results on Friday, May 15th. The company reported $0.26 EPS for the quarter. Mako Mining had a return on equity of 34.25% and a net margin of 25.11%.The business had revenue of $68.59 million during the quarter. Analysts anticipate that Mako Mining Corp. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio grew its position in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,200 shares of the company’s stock after purchasing 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.