Mako Mining Corp. (NASDAQ:MAKO) Sees Significant Decline in Short Interest

Mako Mining Corp. (NASDAQ:MAKO) was the target 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. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 163,907 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Mako Mining

An institutional investor recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio raised its holdings in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

Mako Mining Stock Performance

Mako Mining stock traded down $0.09 during trading hours on Thursday, hitting $9.30. The stock had a trading volume of 143,251 shares, compared to its average volume of 148,213. The company’s 50-day simple moving average is $9.53. Mako Mining has a fifty-two week low of $4.96 and a fifty-two week high of $11.10. The stock has a market cap of $814.74 million and a P/E ratio of 22.68.

Mako Mining (NASDAQ:MAKO) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.26 earnings per share for the quarter. The company had revenue of $68.59 million for the quarter. Mako Mining had a return on equity of 34.25% and a net margin of 25.11%. On average, equities analysts anticipate that Mako Mining will post 0.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MAKO. Zacks Research upgraded Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Weiss Ratings raised Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen lowered 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 given a Hold rating to the stock. According to MarketBeat.com, Mako Mining presently has an average 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.