Strong operational and financial performance with record gold sales and cash flow. The company's cash position fully funds its development projects, and management's plan to lower cost of capital could lead to shareholder returns. Monitor for capital allocation announcements in coming weeks; the stock may re-rate if the market views the cost-of-capital plan as accretive.
Price Chart
Executive Summary
Mako Mining reported record Q2 2026 revenue of $62.6M (up 62% YoY), Adjusted EBITDA of $31.7M, and net income of $13.9M ($0.16/share), driven by higher gold sales volume (14,610 oz) and a record average realized gold price of $4,201/oz. The company ended the quarter with $112.9M in cash and securities, and management signaled plans to lower cost of capital and potentially return capital to shareholders.
Key Facts
- Record quarterly revenue of $62.6 million, up 62% from $38.7 million in Q2 2025
- Adjusted EBITDA of $31.7 million, up from $21.3 million in prior-year quarter
- Net income of $13.9 million ($0.16 per share)
- Gold sold: 14,610 oz at average realized price of $4,201/oz
- All-in sustaining cost (AISC) of $2,286/oz; San Albino mine AISC of $1,535/oz, Moss mine $3,708/oz
- Cash, trade receivables and marketable securities of $112.9 million
- Trailing twelve-month mine operating cash flow of $105.0 million
Financial Impact
Revenue grew 61.7% YoY to $62.6M, Adjusted EBITDA +49% to $31.7M, net income positive $13.9M vs. prior year
Risk Factors
- Gold price volatility could impact future margins and cash flow
- Moss mine has higher AISC ($3,708/oz) which may compress margins if gold prices decline
- Forward-looking statements about capital returns are not guaranteed; no concrete plan yet
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001062993-26-004363 |
| Document: form6k.htm | 0001062993-26-004363 |
| Document: 0001062993-26-004363-index-headers.html | 0001062993-26-004363 |
| Document: 0001062993-26-004363-index.html | 0001062993-26-004363 |
| Document: 0001062993-26-004363.txt | 0001062993-26-004363 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 6-K | $8.95 | awaiting T+60 | — | $7.92 (−11.46%) |
Sep 14, 2026 6w ago | 6-K | $10.06 | awaiting T+60 | — | $7.92 (−21.27%) |
Sep 10, 2026 6w ago | 6-K | $9.82 | awaiting T+60 | — | $7.92 (−19.35%) |
Aug 14, 2026 10w ago | 6-K | $10.12 | awaiting T+60 | — | $7.92 (−21.74%) |
Jul 7, 2026 15w ago | 6-K | $7.73 $9.39 | ▲ +21.47% | ▲ +19.48% | $7.92 (+2.46%) |
May 15, 2026 23w ago | 6-K | $8.21 $9.89 | ▲ +20.46% | ▲ +15.95% | $7.92 (−3.53%) |
May 15, 2026 23w ago | 6-K | $8.21 $9.89 | ▲ +20.46% | ▲ +15.95% | $7.92 (−3.53%) |
May 4, 2026 25w ago | 6-K | $7.55 $7.13 | ▼ −5.56% | ▼ −7.42% | $7.92 (+4.90%) |
US Market Status
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