Avino Silver & Gold Mines (NYSE:ASM) Shares Down 8.4% - Here's What Happened

Key Points

• Avino Silver & Gold Mines shares fell 8.4% during Thursday trading, hitting an intraday low of $5.80 before last trading at $5.7340.
• Analysts lowered price targets on the stock, with HC Wainwright cutting its target to $10.25 and Roth Capital reducing its target to $6.50; the consensus rating remains Moderate Buy with an average price target of $8.50.
• Institutional investors have been active in ASM, with several firms opening or increasing positions, while institutions now own 3.11% of the company.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report) shares dropped 8.4% during mid-day trading on Thursday . The company traded as low as $5.80 and last traded at $5.7340. 719,237 shares changed hands during trading, a decline of 86% from the average session volume of 5,284,130 shares. The stock had previously closed at $6.26.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ASM shares. HC Wainwright reduced their price objective on shares of Avino Silver & Gold Mines from $13.00 to $10.25 and set a "buy" rating on the stock in a research report on Wednesday. Roth Capital cut their target price on shares of Avino Silver & Gold Mines from $8.00 to $6.50 and set a "neutral" rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Avino Silver & Gold Mines has an average rating of "Moderate Buy" and an average price target of $8.50.

Avino Silver & Gold Mines Stock Down 7.9%

The company has a quick ratio of 1.43, a current ratio of 2.36 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $979.29 million, a P/E ratio of 286.89 and a beta of 1.73. The company has a fifty day moving average price of $6.39 and a 200-day moving average price of $7.23.

Institutional Investors Weigh In On Avino Silver & Gold Mines

Several large investors have recently bought and sold shares of ASM. JPMorgan Chase & Co. purchased a new position in shares of Avino Silver & Gold Mines in the 3rd quarter worth approximately $972,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Avino Silver & Gold Mines by 343.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 106,678 shares of the company's stock valued at $674,000 after buying an additional 82,613 shares during the period. Auxano Advisors LLC purchased a new stake in Avino Silver & Gold Mines during the 4th quarter valued at $1,801,000. SG Americas Securities LLC purchased a new stake in Avino Silver & Gold Mines during the 1st quarter valued at $3,433,000. Finally, North Star Investment Management Corp. bought a new stake in Avino Silver & Gold Mines in the first quarter worth $1,896,000. Institutional investors own 3.11% of the company's stock.

About Avino Silver & Gold Mines

Avino Silver & Gold Mines Ltd. is a Vancouver-based precious metals producer and explorer focused on the mining of silver, gold and copper. The company's flagship asset is the 100%-owned Avino Mine, situated near the historic town of Avino in the state of Durango, Mexico. Avino's operations encompass underground and open‐pit mining, milling and tailings reprocessing, delivering a diversified metal output. In addition to silver and gold production, the Avino Mine yields significant copper by-product credits, enhancing overall project economics.

Beyond its core Mexican operations, Avino holds interests in several exploration and development properties across North America.

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