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

Key Points

• Shares gapped up — Avino opened at $10.38 after a $9.47 close and was last at $10.3510 on volume of 1,346,110, an approximately 11.5% intraday rise.
• Analyst sentiment shifted higher — HC Wainwright raised its target to $12.50 with a "buy," and the consensus is a "Moderate Buy" with an average price target of $9.50 amid mixed buy/hold ratings.
• Big institutional buying — firms like Tidal Investments and Mackenzie Financial materially increased stakes, while Avino has a $1.71 billion market cap and a very high P/E of 522.81, signaling an elevated valuation versus earnings.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $9.47, but opened at $10.38. Avino Silver & Gold Mines shares last traded at $10.3510, with a volume of 1,346,110 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ASM. HC Wainwright upped their price target on Avino Silver & Gold Mines from $7.40 to $12.50 and gave the company a "buy" rating in a report on Friday, January 23rd. Roth Mkm increased their target price on shares of Avino Silver & Gold Mines from $5.50 to $7.25 and gave the company a "neutral" rating in a research report on Friday, January 23rd. Industrial Alliance Securities set a $8.75 price target on shares of Avino Silver & Gold Mines in a research report on Friday, January 23rd. Alliance Global Partners reaffirmed a "buy" rating on shares of Avino Silver & Gold Mines in a report on Friday, January 23rd. Finally, Zacks Research cut Avino Silver & Gold Mines from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $9.50.

Avino Silver & Gold Mines Trading Up 11.5%

The stock has a market capitalization of $1.71 billion, a PE ratio of 522.81 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. The business's 50-day moving average is $6.75 and its two-hundred day moving average is $5.27.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of large investors have recently made changes to their positions in ASM. Tidal Investments LLC boosted its position in shares of Avino Silver & Gold Mines by 94.3% in the third quarter. Tidal Investments LLC now owns 7,207,592 shares of the company's stock worth $37,840,000 after acquiring an additional 3,497,923 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Avino Silver & Gold Mines by 239.7% in the third quarter. Mackenzie Financial Corp now owns 5,844,715 shares of the company's stock valued at $30,651,000 after acquiring an additional 4,124,392 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Avino Silver & Gold Mines by 38.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,830,893 shares of the company's stock valued at $30,592,000 after acquiring an additional 1,621,634 shares during the period. Van ECK Associates Corp acquired a new stake in Avino Silver & Gold Mines during the third quarter worth about $28,208,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Avino Silver & Gold Mines by 702.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,074,813 shares of the company's stock worth $11,069,000 after purchasing an additional 2,691,743 shares during the period. Hedge funds and other 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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