Mako Mining (MAKO) Stock Overview

Engages in gold mining and exploration activities in Nicaragua. More details

MAKO fundamental analysis
Snowflake Score
Valuation	3/6
Future Growth	0/6
Past Performance	3/6
Financial Health	6/6
Dividends	0/6

Rewards

Trading at 68.9% below our estimate of its fair value

Earnings have grown 60.5% per year over the past 5 years

Risk Analysis

Significant insider selling over the past 3 months

MAKO Community Fair Values

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Upside Gold

An Undervalued 3.3Moz Gold Project in Canada

Key takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.Read more

9.6k

193

CA$5.07

77.5% undervalued

stuart_roberts's

Fair Value

Profit Margin

11.75%

Future PE

21.54x

Price in 2031

CA$5.88

Mako Mining Corp. Competitors

Price History & Performance

Summary of share price highs, lows and changes for Mako Mining
Historical stock prices
Current Share Price	CA$6.40
52 Week High	CA$8.78
52 Week Low	CA$2.60
Beta	1.54
1 Month Change	-23.63%
3 Month Change	10.34%
1 Year Change	116.66%
3 Year Change	298.18%
5 Year Change	124.74%
Change since IPO	-25.84%

Recent updates

Shareholder Returns

	MAKO	US Metals and Mining	US Market
7D	2.2%	8.3%	-0.3%
1Y	116.7%	87.6%	16.1%

Return vs Industry: MAKO exceeded the US Metals and Mining industry which returned 82.4% over the past year.

Return vs Market: MAKO exceeded the US Market which returned 16% over the past year.

Price Volatility

Is MAKO's price volatile compared to industry and market?
MAKO volatility
MAKO Average Weekly Movement	7.7%
Metals and Mining Industry Average Movement	11.6%
Market Average Movement	7.1%
10% most volatile stocks in US Market	16.4%
10% least volatile stocks in US Market	3.3%

Stable Share Price: MAKO has not had significant price volatility in the past 3 months compared to the US market.

Volatility Over Time: MAKO's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2004	n/a	Akiba Leisman	www.makominingcorp.com

Mako Mining Corp. engages in gold mining and exploration activities in Nicaragua. Its primary asset is San Albino property located in Nueva Segovia, Nicaragua. The company was formerly known as Golden Reign Resources Ltd.

Mako Mining Corp. Fundamentals Summary

How do Mako Mining's earnings and revenue compare to its market cap?
MAKO fundamental statistics
Market cap	US$565.06m
Earnings (TTM)	US$24.10m
Revenue (TTM)	US$126.93m

23.2x

P/E Ratio

4.4x

P/S Ratio

Is MAKO overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MAKO income statement (TTM)
Revenue	US$126.93m
Cost of Revenue	US$58.22m
Gross Profit	US$68.71m
Other Expenses	US$44.61m
Earnings	US$24.10m

Last Reported Earnings

Sep 30, 2025

Next Earnings Date

n/a

Earnings per share (EPS)	0.28
Gross Margin	54.13%
Net Profit Margin	18.98%
Debt/Equity Ratio	5.3%

How did MAKO perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/04/01 18:37
End of Day Share Price	2026/04/01 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Mako Mining Corp. is covered by 2 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Michael Bandrowski	Beacon Securities Limited
Brian Szeto	Ventum Financial Corp

Mako Mining (MAKO) Stock Overview

Rewards

Risk Analysis

An Undervalued 3.3Moz Gold Project in Canada

Mako Mining Corp. Competitors

Caledonia Mining

McEwen

DRDGOLD

Xtra-Gold Resources

Price History & Performance

Recent News & Updates

Mako Mining Corp. Reports Updated Mineral Resource Estimate for the Moss Mine in Arizona

Mako Mining Announces Receipt of Underground Mining Permit At Las Conchitas

Mako Mining Corp. announced that it has received CAD 50 million in funding from Wexford Capital LP and other investors

Mako Mining Corp. announced that it expects to receive CAD 50 million in funding from Wexford Capital LP

Mako Mining Corp., Annual General Meeting, Sep 30, 2025

Mako Mining Corp. Announces Board Changes, Effective July 2, 2025

Recent updates

Mako Mining Corp. Reports Updated Mineral Resource Estimate for the Moss Mine in Arizona

Mako Mining Announces Receipt of Underground Mining Permit At Las Conchitas

Mako Mining Corp. announced that it has received CAD 50 million in funding from Wexford Capital LP and other investors

Mako Mining Corp. announced that it expects to receive CAD 50 million in funding from Wexford Capital LP

Mako Mining Corp., Annual General Meeting, Sep 30, 2025

Mako Mining Corp. Announces Board Changes, Effective July 2, 2025

Mako Mining Corp. Reports Initial Results from its 2025 Reverse Circulation Drill Program at the El Golfo Area Within the El Jicaro Concession

Mako Mining Intersects 39.15 g/t Au over 5.9 M (Estimated True Width) 19.2 m Below Surface in Its Inaugural Drill Campaign At El Golfo

Mako Mining Corp. Announces the Appointment of Steve Parsons as President

Mako Mining Corp. (TSXV:MKO) completed the acquisition of EG Acquisition LLC from Wexford Capital LP.

Mako Mining Corp. Intersects 2.93 G/T Gold over 15.4 Metres (ETW) at Eagle Mountain and 3.73 G/T Au over 31.5 M at the Salbora Deposit as Part of a Geotechnical Drill Program

Mako Mining Corp Intersects 22.88 G/T Au over 4.6 M (Estimated True Width) at Las Conchitas

Mako Mining Corp. Provides Additional Exploration Results from the 2024 Reverse Circulation Drill Program in the Las Conchitas Area

Mako Mining Intersects 23.84 g/t Au and 12.1 g/t Ag over 4.2m (Estimated True Width) and 36.88 g/t Au and 53.2 g/t Ag over 4.0m (ETW) at Las Conchitas

Mako Mining Corp., Annual General Meeting, Sep 30, 2024

Mako Mining Corp. (TSXV:MKO) completed the acquisition of Goldsource Mines Inc. (TSXV:GXS).

Mako Mining Corp. (TSXV:MKO) entered into an arrangement agreement to acquire Goldsource Mines Inc. (TSXV:GXS) for CAD 33.28 million.

Mako Mining Corp. Provides an Update of Results from the Ongoing Reverse Circulation Drill Program At Las Conchitas

Mako Mining Corp. Intersects 51.78 G/T Au over 3.9 M (Estimated True Width) At Las Conchitas, 62 M from Surface, Outside of Current Mineral Resource Estimate

Mako Mining Corp. Reports Updated and Extended Mineral Resource for the San Albino Project

Mako Mining Corp. Announces Record Au Production in September 2023

Mako Mining Corp. Announces Results from an Additional 68 Reverse Circulation Infill Drill Holes At Las Conchitas

Mako Mining Corp., Annual General Meeting, Oct 13, 2023

Mako Mining Corp. Announces Additional Results from the Reverse Circulation Infill Drilling Completed at Las Conchitas

Mako Mining Corp. Announces Commencement of Las Conchitas Material Processing, and Results from the Reverse Circulation Infill Drilling Completed at Las Conchitas

Mako Mining Corp. Begins Work at Las Conchitas, Processing of Material Expected in July

Mako Mining Announces A Discovery 17 Km from the San Albino Gold Mine, Intersects 41.99 G/T Au and 28.70 G/T Ag over 1.4 M (Estimated True Width), 34 M from Surface and Confirms Orogenic Deposit Type

Mako Mining Corp. Announces Resignation of Brian Szeto as Board of Directors

Mako Mining Corp. Intersects 33.91G/T Gold over 1.7M Estimated True Width At Las Conchitas Central, 12.73 G/T Au over 4.2M ETW At Las Conchitas South and Multiple High Grade Silver Intercepts Up to 3,792.0 G/T Silver over 1.0m Across Las Conchitas

Mako Mining Corp. Appoints Brian Szeto as an Independent Director

Mako Mining Intersects 98.50 G/T Au and 66.3 G/T Ag over 1.9M (Estimated True Width) 39M from Surface At the San Albino Sw Pit

Mako Mining Corp. Auditor Raises 'Going Concern' Doubt