Avino Silver & Gold Mines (NYSE:ASM) Stock Price Up 7.1% – Here’s Why

Shares of Avino Silver & Gold Mines Ltd. (NYSE:ASM) shot up 7.1% during trading on Wednesday . The company traded as high as $4.88 and last traded at $4.9150. 1,355,735 shares were traded during mid-day trading, a decline of 69% from the average session volume of 4,314,832 shares. The stock had previously closed at $4.59.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ASM. Zacks Research raised shares of Avino Silver & Gold Mines from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Roth Capital set a $5.50 price target on Avino Silver & Gold Mines in a report on Wednesday, October 15th. Finally, HC Wainwright boosted their price target on Avino Silver & Gold Mines from $6.10 to $7.60 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $4.97.

Avino Silver & Gold Mines Stock Performance

The firm has a market cap of $767.10 million, a price-to-earnings ratio of 249.62 and a beta of 1.55. The stock’s 50 day moving average is $4.88 and its 200 day moving average is $4.06. The company has a current ratio of 2.36, a quick ratio of 1.43 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of large investors have recently made changes to their positions in ASM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Avino Silver & Gold Mines during the 2nd quarter worth $15,116,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Avino Silver & Gold Mines by 702.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,074,813 shares of the company’s stock valued at $11,069,000 after acquiring an additional 2,691,743 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Avino Silver & Gold Mines in the second quarter valued at about $6,194,000. U S Global Investors Inc. bought a new position in Avino Silver & Gold Mines during the second quarter worth about $3,836,000. Finally, Bank of America Corp DE raised its stake in Avino Silver & Gold Mines by 610.3% in the 2nd quarter. Bank of America Corp DE now owns 876,330 shares of the company’s stock worth $3,155,000 after purchasing an additional 752,949 shares in the last quarter. Institutional investors own 3.11% of the company’s stock.

About Avino Silver & Gold Mines

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.