Mako Mining Corp (TSE:MKO)
:MKO
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Mako Mining Corp
(MKO)
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Rating:66Neutral
Price Target:
C$12.00
▲(50.56% Upside)
Action:DowngradedDate:04/06/26
The score is driven primarily by strong financial performance, including rapid growth, improved margins, and a near debt-free balance sheet with meaningful free cash flow. Offsetting this, technical indicators show weak-to-neutral near-term momentum, and valuation is a significant headwind due to the very high P/E and lack of dividend yield data.
Positive Factors
Rapid revenue scale-up
Sustained multi-year revenue growth reflects successful transition from exploration to meaningful production and sales. This scale improves operational fixed-cost absorption, funds reinvestment, and provides a larger base for sustained free cash flow generation, supporting long-term business stability.
Negative Factors
Inconsistent historical cash conversion
Despite strong recent cash generation, prior years showed weak or negative cash conversion, indicating the company’s cash flow profile can deteriorate. Persistent inconsistency raises execution risk for capex funding and makes long-term free cash flow less predictable across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Rapid revenue scale-up
Sustained multi-year revenue growth reflects successful transition from exploration to meaningful production and sales. This scale improves operational fixed-cost absorption, funds reinvestment, and provides a larger base for sustained free cash flow generation, supporting long-term business stability.
Read all positive factors
Mako Mining Corp (MKO) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$934.48M
Dividend YieldN/A
Average Volume (3M)125.10K
Price to Earnings (P/E)11.8
Beta (1Y)1.53
Revenue Growth45.36%
EPS Growth-14.35%
CountryCA
Employees30
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)0.24
Shares Outstanding87,009,000
10 Day Avg. Volume204,723
30 Day Avg. Volume125,104
Financial Highlights & Ratios
PEG Ratio0.37
Price to Book (P/B)4.32
Price to Sales (P/S)4.39
P/FCF Ratio16.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 pro...
How the Company Makes Money
null...
Mako Mining Corp Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
91
Very Positive
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 148.47M | 92.08M | 65.95M | 63.38M | 30.93M |
| Gross Profit | 75.02M | 46.38M | 24.65M | 12.04M | 11.52M |
| EBITDA | 63.93M | 37.83M | 23.31M | 12.25M | 18.99M |
| Net Income | 33.74M | 19.15M | 6.80M | -11.98M | 9.96M |
Balance Sheet | |||||
| Total Assets | 208.44M | 107.08M | 41.81M | 45.17M | 54.97M |
| Cash, Cash Equivalents and Short-Term Investments | 77.51M | 14.52M | 1.50M | 523.00K | 1.94M |
| Total Debt | 69.00K | 4.97M | 7.77M | 12.97M | 21.73M |
| Total Liabilities | 57.71M | 30.16M | 21.18M | 31.50M | 29.00M |
| Stockholders Equity | 150.73M | 76.92M | 20.63M | 13.67M | 25.97M |
Cash Flow | |||||
| Free Cash Flow | 40.66M | 21.57M | 7.71M | 7.58M | -8.28M |
| Operating Cash Flow | 52.98M | 34.45M | 12.47M | 16.38M | 137.00K |
| Investing Cash Flow | -20.34M | -13.19M | -4.76M | -8.80M | -6.30M |
| Financing Cash Flow | 30.07M | -8.23M | -6.75M | -8.99M | 3.12M |
Mako Mining Corp Technical Analysis
Positive
7.97
Price Trends
9.74
Positive
9.16
Positive
7.89
Positive
Market Momentum
0.36
Negative
73.15
Negative
94.59
Negative
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 9.18, below the 50-day MA of 9.74, and above the 200-day MA of 7.89, indicating a bullish trend. The MACD of 0.36 indicates Negative momentum. The RSI at 73.15 is Negative, neither overbought nor oversold. The STOCH value of 94.59 is Negative, 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$934.48M | 11.75 | 28.92% | ― | 45.36% | -14.35% | |
63 Neutral | C$649.15M | 37.95 | 22.89% | ― | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
47 Neutral | C$1.62B | -66.86 | -72.54% | ― | ― | -111.48% | |
46 Neutral | C$691.77M | -8.26 | -34.32% | ― | ― | 50.54% | |
45 Neutral | C$676.89M | 11.75 | 27.30% | ― | ― | -12.17% |
* Basic Materials Sector Average
TSE:MKO
Mako Mining Corp
11.20
6.68
147.79%
TSE:OMG
Omai Gold Mines
2.35
1.89
405.38%
TSE:FF
First Mining Gold
0.52
0.37
235.48%
TSE:HSTR
Heliostar Metals
2.63
1.48
128.70%
TSE:RML
Rusoro Mining
1.07
0.48
81.36%
Mako Mining Corp Corporate Events
Business Operations and StrategyFinancial Disclosures
Mako Mining Posts Record Q1 2026 Gold Sales and Cash, Fully Funding Growth Plans
Positive
Apr 15, 2026
Mako Mining Corp. reported record first-quarter 2026 production and financial results, with gold sales of 13,721 ounces generating approximately $68.6 million in revenue and lifting its cash and trade receivables to $96.1 million, while remaining ...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Mako Mining Posts Record Q4 2025 Results and Advances U.S. Gold Growth Strategy
Positive
Apr 1, 2026
Mako Mining reported record fourth-quarter 2025 results, driven by $50.4 million in gold revenue from 11,564 ounces sold at an unusually high realized price and supported by low costs, producing $28.3 million in adjusted EBITDA, $14.3 million in n...
Business Operations and StrategyDelistings and Listing Changes
Mako Mining Wins Nasdaq Listing to Boost U.S. Investor Reach
Positive
Mar 26, 2026
Mako Mining Corp., a gold mining, development and exploration company with producing and advanced-stage assets in Nicaragua, the U.S. and Guyana, is focused on high-grade open pit operations and district-scale growth potential. Its portfolio spans...
Business Operations and StrategyDelistings and Listing ChangesRegulatory Filings and Compliance
Mako Mining Wins Nasdaq Listing to Broaden U.S. Investor Reach
Positive
Mar 26, 2026
Mako Mining Corp. has secured approval to list its common shares on the Nasdaq Capital Market, with trading expected to begin on March 30, 2026, under the symbol “MAKO,” while the stock will continue to trade on the TSX Venture Exchang...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Mako Mining Closes Mt. Hamilton Acquisition, Expands U.S. Gold Footprint
Positive
Mar 24, 2026
Mako Mining Corp., a Americas‑focused gold producer and developer, operates the high‑grade San Albino mine in Nicaragua, the Moss Mine in Arizona, and is advancing its Eagle Mountain project in Guyana through technical and permitting a...
Business Operations and StrategyRegulatory Filings and Compliance
Mako Mining Files NI 43-101 Technical Report for Moss Mine Resource Estimate
Positive
Mar 10, 2026
Mako Mining Corp. has filed an independent NI 43-101 technical report for the 2025 mineral resource estimate at its Moss Mine project in the Oatman Mining District of Mohave County, Arizona. The report, dated February 27, 2026, and now available o...
Business Operations and StrategyM&A Transactions
Mako Restructures Mt. Hamilton Deal to Scrap Royalty and Expand Corporate Gold Stream
Positive
Feb 18, 2026
Mako Mining has amended and restated its definitive agreements with Sailfish Royalty Corp. for the acquisition of 100% of Mt. Hamilton LLC, owner of the Mt. Hamilton gold project in Nevada, to improve flexibility around future development. Legal o...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Mako Mining Restructures Mt. Hamilton Deal and Delays Shareholder Vote
Positive
Feb 10, 2026
Mako Mining has postponed its special shareholder meeting from February 10 to March 3, 2026, as it works with Sailfish Royalty Corp. to restructure the US$40 million consideration for the planned acquisition of the Mt. Hamilton Gold-Silver Project...
Business Operations and StrategyFinancial Disclosures
Mako Mining Lifts Moss Mine Resources, Readies Project for Steady-State Output
Positive
Jan 26, 2026
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 ounce...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.