A magneto-resistive random access memory (MRAM) stably read data stored in an MRAM cell in a magnetization direction of a variable magnetic layer of an MTJ element. The MRAM includes a first current sinking circuit to convert a current flowing to a sense amplifier node through a current path comprised of a plurality of bit lines into a voltage in an MRAM cell during the data read operation. A second current sinking circuit is also included to convert a current flowing to a reference node into a voltage in a reference MRAM cell. A sense amplifier is included to compare the signal from the first current sinking circuit with the reference signal from the second current sinking circuit, and perform an amplifying operation thereon to read data stored in the MRAM cell.