Mako Mining Corp (MKO) AI Stock Analysis

• Market Cap: C$870.09M
• Dividend Yield: N/A
• Average Volume (3M): 125.10K
• Price to Earnings (P/E): 23.4
• Beta (1Y): 1.12
• Revenue Growth: 45.36%
• EPS Growth: -14.35%
• Country: CA
• Employees: 30
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 0.02
• Shares Outstanding: 87,009,000
• 10 Day Avg. Volume: 204,723
• 30 Day Avg. Volume: 125,104
• PEG Ratio: 0.07
• Price to Book (P/B): 2.98
• Price to Sales (P/S): 2.49
• P/FCF Ratio: 10.63
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: C$12.00 ▲(50.56% Upside)

The score is driven primarily by strong financial performance (growth, profitability, low leverage, and cash flow strength). Technicals are bullish but look overextended (very high RSI/Stoch), which tempers the rating. Valuation is a relative headwind due to a higher P/E and lack of dividend yield data.

Positive Factors

Sustained revenue growth

Consistent revenue growth (19.3% TTM) indicates expanding asset productivity and successful commercialization of mining output. Over 2–6 months this supports reinvestment into exploration and development, underpins operating leverage and steadier cash generation as projects scale.

Robust profitability margins

High gross and EBITDA margins demonstrate efficient cost structure and strong unit economics in gold production. Durable margins provide buffer against cost inflation, enable sustained reinvestment or debt reduction, and make operations resilient across commodity cycles over the medium term.

Strong balance sheet and liquidity

Extremely low leverage and a high equity ratio give the company financial flexibility to fund mine development and exploration without heavy interest burden. Strong ROE shows efficient capital use, reducing refinancing risk and supporting long-term project financing options.

Negative Factors

Negative EPS trend

Declining EPS signals that per‑share earnings are contracting despite revenue gains, potentially from dilution, one-time items or rising costs. If this trend persists it can limit retained earnings for reinvestment and weaken long‑term per‑share value creation.

Limited organizational scale

A very small workforce constrains operational redundancy, project execution speed and in‑house technical capacity for multiple simultaneous developments. Over months this raises execution risk for exploration, mine ramp-ups and sustaining higher production levels.

Sparse public disclosures and events

Absence of recent news or disclosed corporate events limits visibility into project milestones, permitting less clarity on timelines and capital allocation. Over a 2–6 month horizon this can impede investor insight on operational progress and management signaling.

Mako Mining Corp Business Overview & Revenue Model

Company Description

Mako Mining Corp (MKO) is a publicly traded gold mining company focused on the acquisition, exploration, and development of gold properties in the Americas. The company operates primarily in Nicaragua, where it is engaged in the extraction and processing of gold, leveraging its expertise in mining operations to create value for its shareholders. Mako Mining aims to develop its projects through sustainable practices while maximizing the potential of its mineral properties.

How the Company Makes Money

Mako Mining Corp generates revenue primarily through the sale of gold extracted from its mining operations. The company's revenue model is heavily reliant on gold production, with key revenue streams including the direct sale of gold bullion and potential income from by-products associated with its mining activities. Mako Mining has established partnerships with various suppliers and service providers to enhance its operational efficiency and reduce costs. Additionally, fluctuations in gold prices on global markets significantly impact the company's earnings, making its revenue sensitive to changes in commodity prices. The company's focus on exploration and development of new gold projects also positions it for future growth and revenue generation.

Mako Mining Corp Financial Statement Overview

Summary

Strong fundamentals supported by 19.32% TTM revenue growth, high profitability (49.14% gross margin; 20.23% net margin), low leverage (debt-to-equity 0.056), and robust cash generation (free cash flow up 99.4% TTM; operating cash flow to net income 2.16).

Income Statement

Mako Mining Corp has demonstrated strong revenue growth with a 19.32% increase in the TTM period. The company maintains healthy profitability margins, with a gross profit margin of 49.14% and a net profit margin of 20.23%. The EBIT and EBITDA margins are also robust at 35.39% and 42.03%, respectively. These metrics indicate effective cost management and operational efficiency, contributing to a solid financial performance.

Balance Sheet

The balance sheet of Mako Mining Corp shows a strong equity position with a low debt-to-equity ratio of 0.056, indicating low financial leverage and reduced risk. The return on equity is impressive at 25.48%, reflecting efficient use of shareholder funds to generate profits. The equity ratio stands at 64.64%, suggesting a stable financial structure with a significant portion of assets financed by equity.

Cash Flow

Mako Mining Corp's cash flow statement reveals a substantial growth in free cash flow, with a 99.4% increase in the TTM period. The operating cash flow to net income ratio is 2.16, indicating strong cash generation relative to net income. The free cash flow to net income ratio of 0.67 further supports the company's ability to generate cash from operations, enhancing financial flexibility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	137.33M	92.08M	65.95M	63.38M	30.93M	1.40M
Gross Profit	61.09M	46.38M	24.65M	12.04M	11.52M	437.71K
EBITDA	53.93M	37.83M	23.31M	12.25M	18.99M	-11.87M
Net Income	24.55M	19.15M	6.80M	-11.98M	9.96M	-12.13M
Balance Sheet
Total Assets	151.41M	107.08M	41.81M	45.17M	54.97M	49.43M
Cash, Cash Equivalents and Short-Term Investments	29.77M	14.52M	1.50M	523.00K	1.94M	2.63M
Total Debt	7.33M	4.97M	7.77M	12.97M	21.73M	16.87M
Total Liabilities	74.50M	30.16M	21.18M	31.50M	29.00M	32.52M
Stockholders Equity	97.87M	76.92M	20.63M	13.67M	25.97M	16.91M
Cash Flow
Free Cash Flow	31.87M	21.57M	7.71M	7.58M	-8.28M	-39.09M
Operating Cash Flow	48.08M	34.45M	12.47M	16.38M	137.00K	-9.13M
Investing Cash Flow	-24.18M	-13.19M	-4.76M	-8.80M	-6.30M	-28.83M
Financing Cash Flow	-1.51M	-8.23M	-6.75M	-8.99M	3.12M	35.30M

Mako Mining Corp Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.97
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:MKO, the sentiment is Positive. The current price of 7.97 is below the 20-day moving average (MA) of 9.57, below the 50-day MA of 8.58, and above the 200-day MA of 6.68, indicating a bullish trend. The MACD of 0.46 indicates Positive momentum. The RSI at 62.32 is Neutral, neither overbought nor oversold. The STOCH value of 37.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:MKO.

Mako Mining Corp Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HSTR	72 Outperform	C$767.18M	8.89	―	―	―	―
MKO	71 Outperform	C$870.09M	23.42	29.30%	―	45.36%	-14.35%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
OMG	47 Neutral	C$1.20B	-71.71	-76.61%	―	―	-111.48%
FF	47 Neutral	C$886.88M	-29.07	-11.85%	―	―	50.54%
RML	45 Neutral	C$689.42M	-9.55	―	―	―	-12.17%

Mako Mining Corp Corporate Events

Mako Mining Lifts Moss Mine Resources, Readies Project for Steady-State Output

Mako Mining has released an updated mineral resource estimate for its Moss Mine Gold Project in Arizona, outlining measured and indicated open-pit resources of 57.07 million tonnes grading 0.35 g/t gold and 3.7 g/t silver, containing 646,000 ounces of gold and 6.8 million ounces of silver, plus inferred resources of 12.3 million tonnes with 122,000 ounces of gold and 580,000 ounces of silver. The company highlights that the silver ounces are no longer subject to a previous silver stream and that Moss is expected to reach steady-state production later this quarter, with no additional net capital required, positioning the project for an upcoming mineral reserve estimate and updated economics that could underscore its profitability in the current precious metals price environment.

The most recent analyst rating on (TSE:MKO) stock is a Buy with a C$11.50 price target. To see the full list of analyst forecasts on Mako Mining Corp stock, see the TSE:MKO Stock Forecast page.

Mako Mining Delivers Record Q4 Gold Revenue, Clears Debt and Accelerates Project Pipeline

Mako Mining reported a strong finish to 2025, driven by robust production at its San Albino mine and initial contributions from the Moss Mine, resulting in fourth-quarter gold sales of 11,604 ounces and record quarterly gold revenue of approximately US$50 million. The company strengthened its balance sheet by fully repaying US$6.5 million of debt, raising US$37.7 million in equity and ending the year with US$78.1 million in cash and trade receivables, while progressing key growth projects: Moss is ramping toward steady-state production expected later in the current quarter, permitting is advancing at Eagle Mountain with full operating permits targeted this year, and preconstruction has begun at Mt. Hamilton in Nevada ahead of planned full construction in early Q2 2026, positioning Mako for expanded production and enhanced shareholder value.

The most recent analyst rating on (TSE:MKO) stock is a Buy with a C$8.50 price target. To see the full list of analyst forecasts on Mako Mining Corp stock, see the TSE:MKO Stock Forecast page.

Mako Mining Extends High-Grade El Golfo Discovery and Secures Underground Permit at Las Conchitas

Mako Mining Corp. has reported strong new drill results from the El Golfo area, immediately south of its Las Conchitas and San Albino operations in Nicaragua, confirming multiple subparallel high-grade gold-bearing quartz veins over a strike length of at least 630 metres and down-dip extent of 305 metres that remain open in all directions. The latest drilling, which includes intercepts such as 18.34 g/t gold over 4.2 metres true width and several very high-grade, near-surface intervals, supports El Golfo as a significant new discovery with geology similar to existing producing deposits, while the newly received underground mining permit at Las Conchitas will allow development of two adits and underground production of 150–250 tonnes per day for six years, potentially boosting mine life, production flexibility and overall project economics alongside ongoing open-pit operations.

The most recent analyst rating on (TSE:MKO) stock is a Buy with a C$9.00 price target. To see the full list of analyst forecasts on Mako Mining Corp stock, see the TSE:MKO Stock Forecast page.

Mako Mining Corp Reports Strong Q3 2025 Results and Strategic Acquisition

Mako Mining Corp reported its Q3 2025 financial results, showcasing a significant increase in revenue to $27.6 million compared to the previous year. The company achieved a net income of $1.2 million and remains debt-free with a cash balance of approximately $66.0 million. Mako anticipates record financial results in Q4 2025 due to expected higher gold production from both the San Albino and Moss mines. The company has also entered into a binding agreement to acquire the Mt. Hamilton Gold-Silver Project in Nevada, which is expected to enhance its future production capabilities.

The most recent analyst rating on (TSE:MKO) stock is a Buy with a C$8.50 price target. To see the full list of analyst forecasts on Mako Mining Corp stock, see the TSE:MKO Stock Forecast page.