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

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

Analysts Set New Price Targets

A number of analysts have commented on ASM shares. Roth Capital reaffirmed a “neutral” rating and set a $8.00 target price on shares of Avino Silver & Gold Mines in a report on Friday, May 15th. HC Wainwright boosted their price objective on shares of Avino Silver & Gold Mines to $13.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.92.

Avino Silver & Gold Mines Price Performance

The firm has a 50-day moving average of $6.62 and a 200-day moving average of $7.28. The stock has a market cap of $973.06 million, a PE ratio of 286.24 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.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new position in Avino Silver & Gold Mines during the first quarter valued at $134,000. Dynamic Technology Lab Private Ltd lifted its stake in Avino Silver & Gold Mines by 18.5% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 31,452 shares of the company’s stock worth $58,000 after purchasing an additional 4,904 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Avino Silver & Gold Mines by 208.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 209,440 shares of the company’s stock valued at $385,000 after purchasing an additional 141,594 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Avino Silver & Gold Mines during the 1st quarter valued at about $669,000. Finally, American Century Companies Inc. bought a new position in shares of Avino Silver & Gold Mines during the 2nd quarter valued at about $422,000. 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.