Mako Mining (NASDAQ:MAKO) Sets New 12-Month High – What’s Next?

Shares of Mako Mining Corp. (NASDAQ:MAKO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $10.94 and last traded at $10.94, with a volume of 267715 shares. The stock had previously closed at $10.54.

Analysts Set New Price Targets

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

Mako Mining Trading Up 3.8%

The stock has a market capitalization of $958.34 million and a P/E ratio of 26.68. The firm’s fifty day simple moving average is $8.12.

Mako Mining (NASDAQ:MAKO) last issued its quarterly 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 company had revenue of $68.59 million for the quarter. Equities analysts forecast that Mako Mining Corp. will post 0.77 earnings per share for the current year.

Institutional Trading of Mako Mining

An institutional investor recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio lifted its stake in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

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.