Avino Silver & Gold Mines (NYSE:ASM) Stock Price Down 5.8% – Here’s What Happened

Avino Silver & Gold Mines Ltd. (NYSE:ASM)’s stock price dropped 5.8% on Friday . The stock traded as low as $5.85 and last traded at $5.8490. Approximately 2,628,396 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 4,382,449 shares. The stock had previously closed at $6.21.

Wall Street Analyst Weigh In

ASM has been the subject of a number of recent research reports. Zacks Research downgraded shares of Avino Silver & Gold Mines from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Roth Capital set a $5.50 price target on Avino Silver & Gold Mines in a research report on Wednesday, October 15th. Finally, HC Wainwright lifted their price objective 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 equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.55.

Avino Silver & Gold Mines Trading Down 4.7%

The firm has a market capitalization of $931.67 million, a PE ratio of 296.15 and a beta of 1.67. The business has a fifty day moving average price of $5.40 and a two-hundred day moving average price of $4.66. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp purchased a new stake in shares of Avino Silver & Gold Mines during the third quarter worth $28,208,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Avino Silver & Gold Mines during the 2nd quarter worth about $15,116,000. Mackenzie Financial Corp raised its position in Avino Silver & Gold Mines by 239.7% in the 3rd quarter. Mackenzie Financial Corp now owns 5,844,715 shares of the company’s stock valued at $30,651,000 after purchasing an additional 4,124,392 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Avino Silver & Gold Mines by 94.3% in the 3rd quarter. Tidal Investments LLC now owns 7,207,592 shares of the company’s stock valued at $37,840,000 after buying an additional 3,497,923 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in 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 in the last quarter. 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.