H.C. Wainwright Reiterates a Buy Rating on Avino Silver & Gold

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Avino Silver & Gold (NYSE: ASM) today and set a price target of $3.25. The company’s shares closed yesterday at $1.43.

Ihle wrote:

“We expect improved profitability over the remainder of the year as higher production levels are achieved following completion of the Avino Mine expansion in the near term. Improved 1Q18 production. Production reached 656,699 an increase of 9% when compared to 1Q17. Higher YoY production was driven by a 12% increase in gold production amid higher gold and copper prices. This was partially offset by a 3% and 5% decline in total silver and copper production, respectively. Improved YoY gold production was primarily due to higher gold grades (up 16%) at the Avino Mine. That said, lower silver and copper grades and recoveries at the Avino Mine contributed to the YoY decline in consolidated production both metals.”

According to TipRanks.com, Ihle is a 4-star analyst with an average return of 8.1% and a 45.5% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

Avino Silver & Gold has an analyst consensus of Moderate Buy, with a price target consensus of $3.25.

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The company has a one-year high of $1.89 and a one-year low of $1.14. Currently, Avino Silver & Gold has an average volume of 106.7K.

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Avino Silver & Gold Mines Ltd. engages in mining and exploration activities. It focuses in silver reserves in Durango region of North Central Mexico. It operates through the Silver, Gold, and Copper segments. The company was founded on May 15, 1968 and is headquartered in Vancouver, Canada.