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

Mako Mining Corp. (NASDAQ:MAKO)’s stock 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 traded.

Analysts Set New Price Targets

A number of analysts recently commented 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 raised 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 issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Mako Mining Stock Up 4.0%

The stock has a 50 day moving average of $8.46. The firm has a market cap of $900.70 million and a P/E ratio of 25.10.

Mako Mining (NASDAQ:MAKO) last posted its earnings results on Friday, May 15th. The company reported $0.26 earnings per share (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. On average, sell-side analysts predict that Mako Mining Corp. will post 0.78 EPS for the current fiscal year.

Institutional Trading of Mako Mining

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio increased its stake in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 reporting period.

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.