Avino Silver & Gold Mines (NYSE:ASM) Shares Up 11.2% – Here’s Why

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s share price shot up 11.2% during mid-day trading on Thursday . The company traded as high as $7.77 and last traded at $7.6750. 3,667,768 shares changed hands during trading, a decline of 38% from the average session volume of 5,891,970 shares. The stock had previously closed at $6.90.

Analyst Ratings Changes

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

Avino Silver & Gold Mines Price Performance

The stock’s fifty day moving average is $6.08 and its 200-day moving average is $5.00. The stock has a market capitalization of $1.51 billion, a PE ratio of 467.73 and a beta of 1.60. 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

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in Avino Silver & Gold Mines by 208.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 209,440 shares of the company’s stock worth $385,000 after acquiring an additional 141,594 shares in the last quarter. U S Global Investors Inc. acquired a new stake in shares of Avino Silver & Gold Mines in the second quarter valued at about $3,836,000. Arrowstreet Capital Limited Partnership increased its stake 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. Mackenzie Financial Corp acquired a new position in shares of Avino Silver & Gold Mines during the 2nd quarter worth about $6,194,000. Finally, Spark Investment Management LLC purchased a new position in Avino Silver & Gold Mines in the 2nd quarter valued at about $699,000. 3.11% of the stock is currently owned by institutional investors and hedge funds.

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.