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

Key Points

• Shares gapped down premarket from $6.86 to $6.53 and last traded at $6.4050 on volume of 2,426,654 shares, with the stock trading down about 1.1% and a market cap near $1.10 billion.
• Analyst sentiment is mixed: one Buy and two Hold ratings give an average rating of Hold and an average price target of $6.55, while HC Wainwright raised its target to $7.60 and Zacks downgraded to Hold.
• Several hedge funds have recently added large positions (VanEck, MIRAE, Mackenzie, Tidal, Arrowstreet), reflecting notable institutional buying despite institutions owning roughly 3.11% of the stock.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $6.86, but opened at $6.53. Avino Silver & Gold Mines shares last traded at $6.4050, with a volume of 2,426,654 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ASM shares. Roth Capital set a $5.50 price target on shares of Avino Silver & Gold Mines in a report on Wednesday, October 15th. HC Wainwright boosted their price target on Avino Silver & Gold Mines from $6.10 to $7.60 and gave the stock a "buy" rating in a research report on Monday, November 3rd. Finally, Zacks Research downgraded Avino Silver & Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $6.55.

Avino Silver & Gold Mines Trading Down 1.1%

The business's 50 day moving average price is $5.74 and its 200-day moving average price is $4.83. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 340.17 and a beta of 1.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.43 and a current ratio of 2.36.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp bought a new stake in Avino Silver & Gold Mines in the third quarter valued at $28,208,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Avino Silver & Gold Mines in the 2nd quarter valued at $15,116,000. Mackenzie Financial Corp grew its holdings in shares of Avino Silver & Gold Mines by 239.7% in the 3rd quarter. Mackenzie Financial Corp now owns 5,844,715 shares of the company's stock worth $30,651,000 after purchasing an additional 4,124,392 shares during the last quarter. Tidal Investments LLC increased its position in shares of Avino Silver & Gold Mines by 94.3% during the 3rd quarter. Tidal Investments LLC now owns 7,207,592 shares of the company's stock worth $37,840,000 after purchasing an additional 3,497,923 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Avino Silver & Gold Mines by 702.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,074,813 shares of the company's stock valued at $11,069,000 after purchasing an additional 2,691,743 shares during the last quarter. 3.11% of the stock is owned by institutional investors and hedge funds.

Avino Silver & Gold Mines Company Profile

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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