Mako Mining (NASDAQ:MAKO) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Mako Mining (NASDAQ:MAKO) from a strong-buy rating to a hold rating in a research note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Mako Mining to a “hold” rating in a research report on Wednesday, June 17th. Weiss Ratings upgraded shares of Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One 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 a consensus rating of “Moderate Buy”.

Mako Mining Stock Down 2.8%

Shares of NASDAQ:MAKO opened at $9.84 on Friday. The business has a fifty day moving average of $7.85. The company has a market cap of $861.98 million and a price-to-earnings ratio of 37.85. Mako Mining has a one year low of $4.18 and a one year high of $10.28.

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

Hedge Funds Weigh In On Mako Mining

An institutional investor recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio grew its holdings in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the 2nd quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.

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.