H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Avino Silver & Gold (NYSE: ASM) today and set a price target of $3. The company’s shares closed yesterday at $0.68, close to its 52-week low of $0.56.
Ihle observed:
“We note that this was in addition to 20% and 26% lower silver and gold grades at San Gonzalo though those were partially offset by higher throughput from the addition of Mill Circuit #4. That said, we highlight that year to date silver equivalent production increased by 2%, primarily due to a 28% YoY increase in copper grades at the Avino Mine, additional throughput from the addition of a lower silver price relative to gold and copper. In our view, Avino continues to set the stage for substantial production growth in 2019 especially once Mill Circuit #4 transitions to processing higher grade ore from the San Luis area.”
According to TipRanks.com, Ihle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -2.1% and a 35.2% 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 $2.90.
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Avino Silver & Gold’s market cap is currently $37.94M and has a P/E ratio of 11.34. The company has a Price to Book ratio of 0.52.
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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.
