Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 7% – Here’s Why

Shares of Avino Silver & Gold Mines Ltd. (NYSE:ASM) were down 7% on Wednesday . The company traded as low as $5.67 and last traded at $5.6450. Approximately 848,885 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 5,472,360 shares. The stock had previously closed at $6.07.

Analyst Upgrades and Downgrades

ASM has been the subject of several recent research reports. HC Wainwright increased their price target on Avino Silver & Gold Mines to $13.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Roth Capital restated a “neutral” rating and issued a $8.00 target price on shares of Avino Silver & Gold Mines in a report on Friday, May 15th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.92.

Avino Silver & Gold Mines Stock Down 1.2%

The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 304.40 and a beta of 1.73. 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 business has a fifty day moving average of $6.59 and a 200 day moving average of $7.28.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of hedge funds have recently modified their holdings of ASM. The Manufacturers Life Insurance Company acquired a new stake in shares of Avino Silver & Gold Mines during the 1st quarter worth about $910,000. Lazard Asset Management LLC acquired a new position in Avino Silver & Gold Mines in the first quarter valued at about $199,000. Themes Management Co LLC boosted its stake in 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 worth $146,000 after buying an additional 10,839 shares during the period. Renaissance Technologies LLC purchased a new position in Avino Silver & Gold Mines during the first quarter worth about $1,990,000. Finally, State of Wyoming increased its position 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 acquiring an additional 6,685 shares during the last quarter. 3.11% of the stock is currently owned by hedge funds and other institutional investors.

Avino Silver & Gold Mines Company Profile

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.