Mako Mining Corp. (NASDAQ:MAKO) Sees Large Increase in Short Interest

Mako Mining Corp. (NASDAQ:MAKO) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 72,006 shares, an increase of 71.9% from the July 30th total of 41,891 shares. Based on an average daily trading volume, of 232,613 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Mako Mining stock. Public Employees Retirement System of Ohio grew its position in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during the 2nd quarter, according to its most recent 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 period. Public Employees Retirement System of Ohio’s holdings in Mako Mining were worth $185,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MAKO shares. Zacks Research upgraded shares of Mako Mining to a “hold” rating in a research report on Wednesday, June 17th. Wall Street Zen downgraded shares of Mako Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Mako Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One 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 stock currently has a consensus rating of “Moderate Buy”.

Mako Mining Stock Performance

NASDAQ:MAKO traded down $0.24 during trading hours on Monday, reaching $9.95. 66,803 shares of the company traded hands, compared to its average volume of 142,817. The firm’s 50-day simple moving average is $8.33. The stock has a market capitalization of $871.62 million and a PE ratio of 24.27. Mako Mining has a 1-year low of $4.35 and a 1-year high of $11.10.

Mako Mining (NASDAQ:MAKO) last issued its quarterly earnings data 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 for the quarter. As a group, sell-side analysts predict that Mako Mining will post 0.77 EPS for the current year.

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.