Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 7.9% – Here’s What Happened

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s share price dropped 7.9% during trading on Tuesday . The company traded as low as $4.25 and last traded at $4.3450. Approximately 2,019,291 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 4,306,877 shares. The stock had previously closed at $4.72.

Analysts Set New Price Targets

ASM has been the subject of a number of recent analyst reports. HC Wainwright raised their target price on Avino Silver & Gold Mines from $6.10 to $7.60 and gave the company a “buy” rating in a report on Monday. Zacks Research raised Avino Silver & Gold Mines from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Roth Capital set a $5.50 price target on Avino Silver & Gold Mines in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Avino Silver & Gold Mines currently has an average rating of “Buy” and a consensus price target of $4.97.

Avino Silver & Gold Mines Stock Down 1.2%

The firm has a 50-day simple moving average of $4.88 and a two-hundred day simple moving average of $4.04. The company has a market cap of $636.43 million, a PE ratio of 207.10 and a beta of 1.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.36 and a quick ratio of 1.43.

Institutional Investors Weigh In On Avino Silver & Gold Mines

Hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Avino Silver & Gold Mines in the second quarter valued at approximately $15,116,000. Tidal Investments LLC boosted its holdings in shares of Avino Silver & Gold Mines by 11.6% in the 2nd quarter. Tidal Investments LLC now owns 3,709,669 shares of the company’s stock valued at $13,355,000 after purchasing an additional 385,245 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Avino Silver & Gold Mines by 702.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,074,813 shares of the company’s stock valued at $11,069,000 after buying an additional 2,691,743 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Avino Silver & Gold Mines during the 2nd quarter worth $6,194,000. Finally, U S Global Investors Inc. acquired a new stake in shares of Avino Silver & Gold Mines during the 2nd quarter worth $3,836,000. 3.11% of the stock is owned by institutional investors and hedge funds.

Avino Silver & Gold Mines Company Profile

Avino Silver & Gold Mines Ltd. engages in the mining and exploration activities. It focuses on silver reserves in the Durango region of North Central Mexico. It operates through the Silver, Gold, and Copper segments. The company was founded on May 15, 1968 and is headquartered in Vancouver, Canada.