Avino Silver & Gold Mines (NYSE:ASM) Stock Jumps 6.1% – Here’s What Happened

Avino Silver & Gold Mines Ltd. (NYSE:ASM) shares rose 6.1% on Friday. The stock traded as high as $5.51 and last traded at $5.5040. 1,178,963 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 4,805,581 shares. The stock had previously closed at $5.19.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASM shares. Roth Capital raised Avino Silver & Gold Mines from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $8.00 to $7.00 in a research note on Friday. HC Wainwright lifted their price target on shares of Avino Silver & Gold Mines from $10.25 to $10.50 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, National Bank Financial initiated coverage on shares of Avino Silver & Gold Mines in a report on Thursday, October 8th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.75.

Avino Silver & Gold Mines Price Performance

The business’s 50-day simple moving average is $6.54 and its 200-day simple moving average is $6.50. The stock has a market cap of $906.01 million, a PE ratio of 266.38 and a beta of 1.79. The company has a quick ratio of 1.43, a current ratio of 2.36 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Avino Silver & Gold Mines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new stake in Avino Silver & Gold Mines during the 1st quarter valued at approximately $29,000. Harbor Investment Advisory LLC bought a new position in shares of Avino Silver & Gold Mines during the 1st quarter valued at approximately $44,000. Euro Pacific Asset Management LLC purchased a new position in shares of Avino Silver & Gold Mines in the 1st quarter worth $63,000. Deutsche Bank AG bought a new stake in shares of Avino Silver & Gold Mines in the 2nd quarter valued at approximately $80,000. Finally, Quantbot Technologies LP bought a new position in Avino Silver & Gold Mines during the second quarter valued at $91,000. 3.11% of the stock is owned by hedge funds and other institutional investors.

Avino Silver & Gold Mines Company Profile

Avino Silver & Gold Mines Ltd. is a Canadian mining company engaged in the acquisition, exploration, development and operation of precious- and base-metal properties. The company’s principal products are silver, gold and copper, with its activities focused primarily on projects in Mexico and Canada.

Avino’s core operation is the Avino Mine, located near Durango, Mexico. The property has a long operating history and includes multiple deposits and mining areas, including the Avino and San Gonzalo zones.