Avino Silver & Gold Mines (NYSE:ASM) Shares Gap Up - Here's Why

Key Points

• Shares jumped about 17.8%, gapping up from $7.83 to open at $8.13 and trading as high as $8.868 on heavy volume (~2.9M shares).
• Analysts are mixed but cautious, with a consensus rating of “Moderate Buy” (two Buys, two Holds) and an average price target of $7.87, below the recent trade price.
• Significant institutional buying has occurred recently (e.g., Arrowstreet added ~2.69M shares to total 3.07M, Goldman raised its stake 208.7%), indicating growing investor interest despite institutional ownership remaining around 3.11%.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $7.83, but opened at $8.13. Avino Silver & Gold Mines shares last traded at $8.8680, with a volume of 2,907,683 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. HC Wainwright restated a "buy" rating on shares of Avino Silver & Gold Mines in a research report on Friday. Zacks Research lowered Avino Silver & Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 19th. Alliance Global Partners restated a "buy" rating on shares of Avino Silver & Gold Mines in a research report on Friday. Industrial Alliance Securities set a $8.75 price target on shares of Avino Silver & Gold Mines in a research report on Friday. Finally, Roth Mkm boosted their price target on shares of Avino Silver & Gold Mines from $5.50 to $7.25 and gave the stock a "neutral" rating in a research note on Friday. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $7.87.

Avino Silver & Gold Mines Stock Up 17.8%

The firm has a 50 day simple moving average of $5.99 and a two-hundred day simple moving average of $4.96. 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 cap of $1.49 billion, a price-to-earnings ratio of 461.43 and a beta of 1.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in Avino Silver & Gold Mines by 208.7% in the first quarter. Goldman Sachs Group Inc. now owns 209,440 shares of the company's stock worth $385,000 after purchasing an additional 141,594 shares during the period. U S Global Investors Inc. bought a new stake in shares of Avino Silver & Gold Mines in the 2nd quarter valued at $3,836,000. Arrowstreet Capital Limited Partnership raised its stake 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 worth $11,069,000 after buying an additional 2,691,743 shares during the period. Mackenzie Financial Corp acquired a new stake in Avino Silver & Gold Mines during the 2nd quarter worth $6,194,000. Finally, Spark Investment Management LLC bought a new position in Avino Silver & Gold Mines during the second quarter worth about $699,000. 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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