StockNews.com Upgrades Avino Silver & Gold Mines to Buy

Avino Silver & Gold Mines (NYSE:ASM) has received an upgrade from StockNews.com, moving from a previous "hold" rating to a more favorable "buy" rating in a report issued on Monday.

Market Response and Stock Performance

Following the upgrade, Avino Silver & Gold Mines saw a significant increase in its stock price, rising by 8.6%. During midday trading on Monday, the stock climbed by $0.15, reaching a price of $1.90 per share. This trading session also saw a substantial volume of 5,739,200 shares exchange hands, considerably higher than the average volume of 1,417,029 shares.

Analyst Predictions and Price Targets

In a related move, HC Wainwright also raised their price target on Avino Silver & Gold Mines from $1.90 to $2.20, reaffirming the company's "buy" rating in their own research report dated March 12.

Company Financials

Avino Silver & Gold Mines currently has a market capitalization of $267.65 million. The company’s price-to-earnings ratio stands at 95.05, with a beta of 1.87 indicating more volatility compared to the market. Their debt-to-equity ratio is notably low at 0.01, suggesting a strong balance sheet. The company reported a quick ratio of 1.43 and a current ratio of 2.36, demonstrating its liquidity position. The stock experienced a range during the past year, with a low of $0.55 and a high of $1.90. Currently, the 50-day simple moving average is $1.41, while the 200-day simple moving average is $1.18.

Institutional Investors Involvement

Recent modifications in stock holdings by institutional investors indicate growing interest in Avino Silver & Gold Mines. Notable transactions include Mariner LLC acquiring a new stake worth approximately $41,000 during the fourth quarter, and Jane Street Group LLC boosting its holdings by an impressive 276.3% in the third quarter. They now possess 39,184 shares of Avino Silver & Gold Mines, valued at $43,000, following an additional purchase of 28,771 shares. Furthermore, Two Sigma Advisers LP and Prudential Financial Inc. have also made noteworthy purchases, indicating strong support from large investors. Currently, institutional investors own around 3.11% of the stock.

About Avino Silver & Gold Mines

Founded on May 15, 1968, Avino Silver & Gold Mines Ltd. is engaged in mining and exploration, particularly focusing on silver reserves located in the Durango region of North Central Mexico. The company operates primarily through its segments covering Silver, Gold, and Copper.

Conclusion

Avino Silver & Gold Mines appears to be gaining favor among analysts and institutional investors alike, indicating a positive outlook for the company's future performance. With recent upgrades and a strong financial position, it may present a compelling opportunity for investors.

Avino, StockNews, Mining