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

Mako Mining Corp. (NASDAQ:MAKO) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 15,578 shares, a drop of 40.4% from the August 31st total of 26,123 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 163,907 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings upgraded Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Mako Mining to a “hold” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Mako Mining from a “strong-buy” rating to a “hold” rating in a 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Mako Mining

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio boosted its holdings in Mako Mining Corp. (NASDAQ:MAKO) by 61.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,200 shares of the company’s stock after purchasing an additional 9,600 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Mako Mining were worth $185,000 at the end of the most recent quarter.

Mako Mining Stock Performance

Shares of Mako Mining stock traded down $0.02 during trading hours on Friday, hitting $9.28. The company’s stock had a trading volume of 56,302 shares, compared to its average volume of 147,822. The company has a market cap of $813.39 million and a PE ratio of 22.67. Mako Mining has a twelve month low of $4.96 and a twelve month high of $11.10. The company’s fifty day simple moving average is $9.58.

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. The firm 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%. Equities analysts predict that Mako Mining will post 0.78 earnings per share for the current year.

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.