Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 6.7% – Here’s Why

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s share price was down 6.7% during mid-day trading on Tuesday . The stock traded as low as $6.45 and last traded at $6.4750. Approximately 2,159,450 shares were traded during trading, a decline of 64% from the average daily volume of 6,020,596 shares. The stock had previously closed at $6.94.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ASM shares. iA Financial set a $8.75 price objective on shares of Avino Silver & Gold Mines in a research report on Friday, January 23rd. HC Wainwright upped their price target on shares of Avino Silver & Gold Mines to $13.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Roth Mkm reaffirmed a “neutral” rating and set a $8.00 price target on shares of Avino Silver & Gold Mines in a research note on Friday. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Avino Silver & Gold Mines in a research note on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.92.

Avino Silver & Gold Mines Price 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 firm has a market cap of $1.10 billion, a P/E ratio of 325.91 and a beta of 1.68. The stock’s 50-day simple moving average is $6.85 and its two-hundred day simple moving average is $6.92.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new position in Avino Silver & Gold Mines during the first quarter valued at $910,000. Lazard Asset Management LLC purchased a new stake in shares of Avino Silver & Gold Mines during the first quarter valued at $199,000. Themes Management Co LLC boosted its stake in shares of Avino Silver & Gold Mines by 89.5% during 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 purchased a new stake in shares of Avino Silver & Gold Mines during the first quarter valued at $1,990,000. Finally, State of Wyoming boosted its stake in shares of Avino Silver & Gold Mines by 48.6% during the first quarter. State of Wyoming now owns 20,428 shares of the company’s stock valued at $127,000 after purchasing an additional 6,685 shares during the period. 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.