Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 8.3% – Here’s Why

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s share price traded down 8.3% during trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.53. 1,216,038 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 6,781,047 shares. The stock had previously closed at $8.21.

Analyst Upgrades and Downgrades

ASM has been the subject of several analyst reports. Zacks Research downgraded Avino Silver & Gold Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Alliance Global Partners reiterated a “buy” rating on shares of Avino Silver & Gold Mines in a research note on Friday, February 20th. Roth Mkm increased their price objective on shares of Avino Silver & Gold Mines from $5.50 to $7.25 and gave the company a “neutral” rating in a research report on Friday, January 23rd. iA Financial set a $8.75 target price on shares of Avino Silver & Gold Mines in a report on Friday, January 23rd. Finally, HC Wainwright upped their target price on shares of Avino Silver & Gold Mines from $7.40 to $12.50 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.50.

Avino Silver & Gold Mines Price Performance

The firm has a fifty day moving average of $8.44 and a 200 day moving average of $6.30. The company has a current ratio of 2.36, a quick ratio of 1.43 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $1.25 billion, a P/E ratio of 374.94 and a beta of 1.57.

Institutional Investors Weigh In On Avino Silver & Gold Mines

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASM. Mariner LLC raised its stake in Avino Silver & Gold Mines by 4.5% during the 4th quarter. Mariner LLC now owns 48,524 shares of the company’s stock valued at $301,000 after buying an additional 2,090 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Avino Silver & Gold Mines by 42.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 8,440 shares of the company’s stock worth $44,000 after buying an additional 2,515 shares during the last quarter. LPL Financial LLC boosted its stake in shares of Avino Silver & Gold Mines by 0.9% in the 4th quarter. LPL Financial LLC now owns 291,913 shares of the company’s stock worth $1,813,000 after buying an additional 2,587 shares during the last quarter. Pinion Investment Advisors LLC grew its holdings in shares of Avino Silver & Gold Mines by 26.0% in the third quarter. Pinion Investment Advisors LLC now owns 14,230 shares of the company’s stock worth $69,000 after acquiring an additional 2,940 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Avino Silver & Gold Mines by 4.3% in the second quarter. Prudential Financial Inc. now owns 77,600 shares of the company’s stock worth $279,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 3.11% of the company’s stock.

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.