Mako Mining (NASDAQ:MAKO) Reaches New 1-Year High – Still a Buy?

Shares of Mako Mining Corp. (NASDAQ:MAKO) hit a new 52-week high during trading on Wednesday . The company traded as high as $10.30 and last traded at $10.1810, with a volume of 11053 shares traded. The stock had previously closed at $9.84.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MAKO. Wall Street Zen cut shares of Mako Mining from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Finally, Zacks Research raised shares of Mako Mining to a “hold” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Mako Mining Stock Up 5.8%

The business’s 50 day moving average price is $7.89. The firm has a market capitalization of $900.79 million and a PE ratio of 25.10.

Mako Mining (NASDAQ:MAKO) last released its quarterly earnings data on Friday, May 15th. The company reported $0.26 earnings per share for the quarter. Mako Mining had a return on equity of 37.24% and a net margin of 25.11%.The business had revenue of $68.59 million for the quarter. As a group, sell-side analysts expect that Mako Mining Corp. will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio lifted its stake in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,200 shares of the company’s stock after acquiring 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.

About Mako Mining

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.