Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 8.3% – Here’s Why

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s stock price was down 8.3% during mid-day trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.53. Approximately 1,216,038 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,781,047 shares. The stock had previously closed at $8.21.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ASM. HC Wainwright increased their price objective on shares of Avino Silver & Gold Mines from $7.40 to $12.50 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Alliance Global Partners reiterated a “buy” rating on shares of Avino Silver & Gold Mines in a research report on Friday, February 20th. iA Financial set a $8.75 price target on shares of Avino Silver & Gold Mines in a research note on Friday, January 23rd. Zacks Research downgraded shares of Avino Silver & Gold Mines from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, Roth Mkm upped their price objective on Avino Silver & Gold Mines from $5.50 to $7.25 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.50.

Avino Silver & Gold Mines Trading Down 9.0%

The stock has a 50-day moving average price of $8.44 and a two-hundred day moving average price of $6.30. The stock has a market capitalization of $1.25 billion, a PE ratio of 374.94 and a beta of 1.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.43 and a current ratio of 2.36.

Institutional Trading of Avino Silver & Gold Mines

Several institutional investors and hedge funds have recently modified their holdings of ASM. Tidal Investments LLC boosted its holdings in Avino Silver & Gold Mines by 94.3% in the 3rd quarter. Tidal Investments LLC now owns 7,207,592 shares of the company’s stock worth $37,840,000 after buying an additional 3,497,923 shares during the period. Mackenzie Financial Corp lifted its position in shares of 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Avino Silver & Gold Mines by 38.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,830,893 shares of the company’s stock worth $30,592,000 after acquiring an additional 1,621,634 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Avino Silver & Gold Mines during the third quarter worth about $28,208,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Avino Silver & Gold Mines by 702.7% during the second 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 in the last quarter. 3.11% of the stock is currently owned by institutional investors.

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.