Avino Silver & Gold Mines (NYSE:ASM) Stock Price Up 9.5% - Here's What Happened

Key Points

• Avino Silver & Gold Mines shares rose 9.5% to $6.47 on Wednesday, reaching as high as $6.57, although trading volume was 52% below the average session volume.
• Analyst sentiment remains moderately bullish: two analysts rate the stock Buy and two rate it Hold, producing a consensus rating of “Moderate Buy” and an average price target of $8.50. However, HC Wainwright and Roth Capital recently lowered their price targets.
• Institutional investors have recently established or increased positions, but funds and hedge funds collectively own only 3.11% of the company. Avino operates the Avino Mine in Mexico, producing silver, gold and copper.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report)'s share price was up 9.5% during trading on Wednesday . The stock traded as high as $6.57 and last traded at $6.47. Approximately 2,492,324 shares were traded during trading, a decline of 52% from the average session volume of 5,151,312 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

ASM has been the topic of a number of analyst reports. HC Wainwright lowered 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, July 22nd. Roth Capital cut their price objective on shares of Avino Silver & Gold Mines from $8.00 to $6.50 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

Avino Silver & Gold Mines Stock Performance

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 $1.10 billion, a PE ratio of 322.41 and a beta of 1.73. The stock has a 50 day moving average of $6.16 and a two-hundred day moving average of $7.18.

Institutional Investors Weigh In On Avino Silver & Gold Mines

Hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company acquired a new position in shares of Avino Silver & Gold Mines during the 1st quarter worth $910,000. Lazard Asset Management LLC purchased a new position in shares of Avino Silver & Gold Mines in the 1st quarter valued at about $199,000. Themes Management Co LLC lifted its stake in shares of Avino Silver & Gold Mines by 89.5% in the first quarter. Themes Management Co LLC now owns 22,952 shares of the company's stock valued at $146,000 after purchasing an additional 10,839 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Avino Silver & Gold Mines in the first quarter valued at about $1,990,000. Finally, State of Wyoming boosted its holdings in Avino Silver & Gold Mines by 48.6% during the first quarter. State of Wyoming now owns 20,428 shares of the company's stock worth $127,000 after buying an additional 6,685 shares in the last quarter. Institutional investors and hedge funds 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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