Avino Silver & Gold Mines (NYSE:ASM) Shares Down 7.1% - Here's Why

Key Points

• Avino Silver & Gold Mines shares fell 7.1% to $5.06 amid increased trading volume, with nearly 7 million shares exchanged.
• The company has been rated by analysts with a consensus rating of "Moderate Buy" and a price target of $3.45, with some reports downgrading it to a "hold."
• Institutional investors have shown significant interest, with Goldman Sachs increasing its holdings by 208.7% and Bank of America by nearly 184,842% in recent quarters.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report)'s share price traded down 7.1% on Thursday . The stock traded as low as $5.04 and last traded at $5.06. 6,994,253 shares changed hands during trading, an increase of 66% from the average session volume of 4,218,240 shares. The stock had previously closed at $5.44.

Analyst Ratings Changes

ASM has been the topic of several recent analyst reports. Roth Capital set a $5.00 target price on Avino Silver & Gold Mines and gave the stock a "neutral" rating in a report on Friday, October 3rd. Zacks Research cut Avino Silver & Gold Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Finally, HC Wainwright restated a "buy" rating and issued a $4.80 target price on shares of Avino Silver & Gold Mines in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Avino Silver & Gold Mines presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.45.

Avino Silver & Gold Mines Stock Performance

The stock's 50 day moving average is $4.38 and its two-hundred day moving average is $3.71. The firm has a market capitalization of $773.44 million, a P/E ratio of 256.13 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.36 and a quick ratio of 1.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASM. Goldman Sachs Group Inc. grew its holdings in Avino Silver & Gold Mines by 208.7% during the first quarter. Goldman Sachs Group Inc. now owns 209,440 shares of the company's stock valued at $385,000 after purchasing an additional 141,594 shares during the period. Bank of America Corp DE increased its position in shares of Avino Silver & Gold Mines by 184,842.4% in the 4th quarter. Bank of America Corp DE now owns 571,472 shares of the company's stock valued at $503,000 after buying an additional 571,163 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of Avino Silver & Gold Mines in the 4th quarter valued at $206,000. Cambridge Investment Research Advisors Inc. raised its stake in Avino Silver & Gold Mines by 12.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 187,789 shares of the company's stock worth $346,000 after buying an additional 20,900 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in Avino Silver & Gold Mines during the first quarter worth about $292,000. 3.11% of the stock is currently owned by institutional investors.

Avino Silver & Gold Mines Company Profile

Avino Silver & Gold Mines Ltd. engages in the mining and exploration activities. It focuses on silver reserves in the Durango region of North Central Mexico. It operates through the Silver, Gold, and Copper segments. The company was founded on May 15, 1968 and is headquartered in Vancouver, Canada.

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