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

Key Points

• Avino Silver & Gold Mines shares gapped down at market open, beginning at $5.15 after a previous close of $5.32, with the latest trade at $5.35.
• Analysts have mixed ratings for the stock, with Roth Capital raising its target price to $3.60 and Zacks Research downgrading it from a "strong-buy" to a "hold."
• Institutional investors have actively adjusted their positions, including a significant purchase by MIRAE ASSET GLOBAL ETF Holdings Ltd. worth approximately $15.1 million.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $5.32, but opened at $5.15. Avino Silver & Gold Mines shares last traded at $5.35, with a volume of 972,535 shares traded.

Analysts Set New Price Targets

Several analysts have recently issued reports on ASM shares. Roth Capital increased their target price on Avino Silver & Gold Mines from $3.50 to $3.60 and gave the stock a "neutral" rating in a report on Friday, August 15th. HC Wainwright reissued a "buy" rating and set a $4.80 target price on shares of Avino Silver & Gold Mines in a report on Thursday, August 14th. Finally, Zacks Research lowered Avino Silver & Gold Mines from a "strong-buy" rating to a "hold" rating in a report on Monday, September 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Avino Silver & Gold Mines presently has an average rating of "Moderate Buy" and an average price target of $3.10.

Avino Silver & Gold Mines Stock Down 1.7%

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.36 and a quick ratio of 1.43. The stock has a market capitalization of $789.91 million, a P/E ratio of 261.88 and a beta of 1.61. The firm has a 50-day simple moving average of $4.08 and a 200 day simple moving average of $3.53.

Hedge Funds Weigh In On Avino Silver & Gold Mines

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Avino Silver & Gold Mines during the second quarter worth about $15,116,000. Tidal Investments LLC boosted its position in shares of Avino Silver & Gold Mines by 11.6% during the second quarter. Tidal Investments LLC now owns 3,709,669 shares of the company's stock valued at $13,355,000 after buying an additional 385,245 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Avino Silver & Gold Mines by 702.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,074,813 shares of the company's stock valued at $11,069,000 after buying an additional 2,691,743 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of Avino Silver & Gold Mines during the second quarter valued at approximately $6,194,000. Finally, U S Global Investors Inc. purchased a new position in shares of Avino Silver & Gold Mines during the second quarter valued at approximately $3,836,000. 3.11% of the stock is currently owned by institutional investors.

About Avino Silver & Gold Mines

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.