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← CockpitCompetitor Analysis › MKO.V Mako Mining Corp.Open in the cockpit ↗

Mako Mining Corp.MKO.VCompetitor analysis, valuation and peers

Canada · CAD·Materials›Precious Metals
Momentum neutral 40
Mkt cap
$712M
US dollars, full cap
Free float
98%
of shares outstanding
$/day
$616,979
20-day average traded
Fwd P/E
10.5×
forward earnings
ROIC−WACC
+39.1 pp
WACC 11.6%
Hurdle
-155 pp
Req g minus delivered
Close · CADC$11.39
1D+3.9%
1W+10.6%
1M-8.9%
3M-14.2%
6M+7.2%
YTD+42.9%
1Y+58.0%
ATR %5.4%
52w lowhigh25.9% off high

What Mako Mining does

No business profile yet.

Mako Mining at a glance

Size Mako Mining (MKO.V) is a Canada Materials company (Precious Metals) with a market value of $712M, the 298th largest of 420 Canada companies the cockpit tracks. Shares closed at C$11.39 on 6 Nov 2026.

Performance Over six months the shares gained 7.2%, against -6.0% for the median peer and +5.2% for the Canada market (cap-weighted) — 5th highest of 19 in its peer set.

Growth Revenue grew 79.5% over the last twelve months (peer median +54.4%); the operating margin is 40.7% (peer median 30.1%).

Valuation It trades at 10.5× forward earnings against a peer median of 12.8× (4th cheapest of 11).

Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +156%, so the hurdle is -155 pp: the price already allows for a slowdown.

Capital Return on invested capital runs 39.1 points above its cost of capital (11.6% WACC).

Relative performance

8010012014011 May 202611 Aug 20266 Nov 2026MKO.V 103Peer median 93
Six months, rebased to 100: Mako Mining against the median of its 20 peers (local-currency closes).

Mako Mining financials

Reported figures in CAD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueC$289MC$207MC$126MC$89.0MC$82.5M
Revenue growth—+64%+42%+8%—
Gross profitC$138MC$90.7MC$58.6MC$24.7M-C$2.37M
EBITDAC$131MC$88.0MC$57.6MC$33.3MC$16.5M
Net incomeC$72.5MC$47.1MC$26.2MC$9.18M-C$15.6M
Free cash flowC$69.0MC$44.8MC$29.0MC$10.4MC$9.87M
Capital expenditureC$21.5MC$17.2MC$17.6MC$6.43MC$11.5M
Total debtC$59.2MC$94,582C$9.74MC$14.4MC$20.8M

Quarterly statements and history in the cockpit →

Mako Mining competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-25%0%+25%+50%-20%0%+20%GFMTUNFDRCYLFFNFGCAMRQGAUKCNFFMDCASMSBMOGGLGDMTLTLGMKO.V6-month return →1-month return →
Up and to the right = strong over both horizons. Mako Mining is the large dot.

Fundamentals: revenue growth against valuation

-50%0%+50%+100%5×10×15×20×GFMSCZCYLGAUKCNASMSBMMTLPNRMKO.VRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Mako Mining is the large dot.

Capital: growth delivered against growth the price implies

0%+50%+100%+150%0%50%100%150%GFMSCZCYLGAUKCNASMPNRMKO.VGrowth delivered (Del g) →Growth the price implies (Req g, 7 yrs) →
Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Mako Mining is the large dot.

Mako Mining competitors and peer comparison

How Mako Mining compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Mako Mining against its 20 peers (data as of 6 Nov 2026)
MeasureMKO.VPeer medianRank in peer set
1-month return-8.9%-8.8%11th highest of 21
6-month return+7.2%-6.0%5th highest of 19
Distance from 52-week high-25.9%-33.7%8th highest of 21
Revenue growth (TTM)+79.5%+54.4%4th highest of 12
Operating margin40.7%30.1%4th highest of 14
Forward P/E10.5×12.8×4th cheapest of 11
Growth the price implies (Req g, 7 yrs)1.5%-0.5%4th most demanding of 8
Growth delivered (Del g)+156.3%+51.1%highest of 8
Hurdle (Req g minus delivered)-154.8 pp-52.3 ppleast demanding of 8
ROIC minus cost of capital+39.1 pp-13.8 pp2nd highest of 20
EV / EBITDA6.9×4.4×4th most expensive of 10
Net debt / EBITDA-0.8×-0.1×3rd least indebted of 10

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Mako Mining MKO.VCanada$712M+7%+79%41%10.5×1.5%+156.3%
Griffin Mining GFM.LUnited Kingdom$711M-4%+29%30%20.3×13.2%+12.2%
Santacruz Silver Mining SCZ.TOCanada$707Mn/a+38%30%9.8×7.1%+59.3%
Tungsten West TUN.LUnited Kingdom$694M-18%n/a-1,558%106.7×n/an/a
Founders Metals FDR.VCanada$734M+42%n/an/an/an/an/a
Catalyst Metals CYL.AXAustralia$746M-28%+75%45%9.5×-15.5%+85.8%
First Mining Gold FF.TOCanada$670M+33%n/an/an/an/an/a
New Found Gold NFGC.TOCanada$662M-16%n/a-233%n/an/an/a
Amaroq AMRQ.LUnited Kingdom$657M0%+2,134%12%n/an/an/a
Galiano Gold GAU.TOCanada$653M+2%+91%44%3.7×-13.8%+51.1%
Kingsgate Consolidated KCN.AXAustralia$779M-39%+77%38%11.5×-6.9%+117.2%
FireFly Metals FFM.AXAustralia$798M-31%n/an/an/an/an/a
Dakota Gold DCUnited States$798M-1%n/an/an/an/an/a
Avino Silver & Gold Mines ASM.TOCanada$799M-30%+54%44%14.0×23.6%+42.1%
St. Barbara SBM.AXAustralia$629M+5%-76%-935%14.7×n/an/a
Osisko Gold OGG.VCanada$814M-18%+805%-51%n/an/an/a
Cadillac Mines CADY.TOCanada$815Mn/an/an/an/an/an/a
Liberty Gold LGD.TOCanada$819M+50%n/an/an/an/an/a
Metals Exploration MTL.LUnited Kingdom$617M+17%-17%32%13.3×n/an/a
Pantoro Gold PNR.AXAustralia$826M-9%+35%34%12.2×-0.5%+40.5%
Troilus Mining TLG.TOCanada$611M-8%n/an/an/an/an/a

Questions

Which companies are Mako Mining's closest peers?
The cockpit's peer set: Griffin Mining (GFM.L), Santacruz Silver Mining (SCZ.TO), Tungsten West (TUN.L), Founders Metals (FDR.V), Catalyst Metals (CYL.AX), First Mining Gold (FF.TO), New Found Gold (NFGC.TO), Amaroq (AMRQ.L).
Is Mako Mining expensive compared with its peers?
On forward p/e it trades at 10.5× against a peer median of 12.8×, 4th cheapest of 11 in its peer set. For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +156%, so the hurdle is -155 pp: the price already allows for a slowdown.
How has Mako Mining stock performed?
Over six months to 6 Nov 2026 the shares returned +7.2% against -6.0% for the median peer; over one year +58.0%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.