Avino Silver & Gold Mines (NYSE:ASM) Shares Down 7.1% - Here's Why

Key Points

• Avino Silver & Gold Mines shares fell 7.1% to about $6.03 in mid-day trading, with trading volume down 87% from the stock’s average daily volume.
• Analyst sentiment remains cautiously positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $8.92, despite Roth Capital maintaining a neutral rating.
• Institutional ownership activity was mixed but included significant buying, with Tidal Investments increasing its stake by 32.9% and Dimensional Fund Advisors raising its holdings by 69.6%; institutions collectively own 3.11% of the company.

Avino Silver & Gold Mines Ltd. (NYSE:ASM - Get Free Report) shares traded down 7.1% during mid-day trading on Wednesday . The company traded as low as $6.02 and last traded at $6.0310. 652,887 shares traded hands during trading, a decline of 87% from the average daily volume of 4,993,438 shares. The stock had previously closed at $6.49.

Analyst Ratings Changes

ASM has been the topic of a number of research reports. Roth Capital raised their target price on shares of Avino Silver & Gold Mines from $7.00 to $7.50 and gave the company a "neutral" rating in a research report on Tuesday, August 25th. HC Wainwright boosted their target price on shares of Avino Silver & Gold Mines from $10.25 to $10.50 and gave the stock a "buy" rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Avino Silver & Gold Mines presently has a consensus rating of "Moderate Buy" and an average price target of $8.92.

Avino Silver & Gold Mines Trading Down 7.5%

The stock has a 50-day moving average of $6.61 and a 200 day moving average of $6.65. The company has a quick ratio of 1.43, a current ratio of 2.36 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.02 billion, a PE ratio of 300.40 and a beta of 1.82.

Institutional Investors Weigh In On Avino Silver & Gold Mines

A number of institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its holdings in shares of Avino Silver & Gold Mines by 32.9% during the 2nd quarter. Tidal Investments LLC now owns 8,851,886 shares of the company's stock worth $56,113,000 after acquiring an additional 2,191,951 shares during the period. Dimensional Fund Advisors LP raised its stake in Avino Silver & Gold Mines by 69.6% during the first quarter. Dimensional Fund Advisors LP now owns 753,417 shares of the company's stock worth $4,758,000 after purchasing an additional 309,139 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Avino Silver & Gold Mines in the 1st quarter valued at about $4,090,000. SG Americas Securities LLC purchased a new stake in shares of Avino Silver & Gold Mines in the 1st quarter valued at approximately $3,433,000. Finally, Rothschild Wealth LLC purchased a new position in Avino Silver & Gold Mines in the fourth quarter worth approximately $2,174,000. Institutional investors and hedge funds own 3.11% of the company's stock.

Avino Silver & Gold Mines Company Profile

Avino Silver & Gold Mines Ltd. is a Canadian mining and mineral exploration company focused on the acquisition, development and operation of precious- and base-metal properties. Its principal operating asset is the Avino Mine in Durango, Mexico, which produces silver, gold and copper from underground mining and processing operations.

The Avino property has a long production history, with mining dating back to the 16th century and modern commercial production beginning in the 1970s.

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