Mako Mining Corp. (NASDAQ:MAKO) Shares Shorted: Short Interest Up 1,210.7% in September

Mako Mining Corp. (NASDAQ:MAKO) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 204,176 shares, a growth of 1,210.7% from the September 15th total of 15,578 shares. Based on an average daily volume of 203,663 shares, the short-interest ratio is currently 1.0 days. Currently, 0.3% of the shares of the stock are sold short.

Institutional Trading of Mako Mining

A hedge fund recently raised its stake in Mako Mining stock. Public Employees Retirement System of Ohio raised its holdings in shares of Mako Mining Corp. (NASDAQ:MAKO) by 61.5% during 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 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 filing with the Securities and Exchange Commission.

Mako Mining Stock Performance

Shares of NASDAQ MAKO traded up $0.36 during midday trading on Friday, hitting $9.36. The stock had a trading volume of 107,292 shares, compared to its average volume of 188,565. The stock has a 50-day simple moving average of $9.81. The stock has a market cap of $820.27 million and a price-to-earnings ratio of 22.83. Mako Mining has a fifty-two week low of $4.96 and a fifty-two week high of $11.10.

Wall Street Analyst Weigh In

Several analysts have recently commented on MAKO shares. Wall Street Zen cut Mako Mining from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised Mako Mining from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday. 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

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 Mine, a high-grade, open-pit operation in the Nueva Segovia region of northern Nicaragua.

In addition to mining and processing gold at San Albino, Mako Mining conducts exploration and resource-development activities across its land package in the region. Its exploration portfolio includes the San Albino and Las Conchitas areas, which contain additional gold-bearing targets that may support future mine development and expansion.

Mako Mining was formerly known as Marlin Gold Mining Ltd.