H.C. Wainwright Thinks Avino Silver & Gold’s Stock is Going to Recover


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on Avino Silver & Gold (ASM), with a price target of $3. The company’s shares closed yesterday at $0.65, close to its 52-week low of $0.55.

Ihle noted:

“We also note that the slight 1% decline in both cash operating costs and AISC per SEO was attributable to an increase in SEOs sold, partially offset by higher cash production costs amid increased cash G&A expenses. Stage set for growth in 2019. During 3Q18, Avino finished restoring the main haulage ramp at San Luis, began drifting on the mine, and also plans to begin drifting on several other levels that were partially developed in the past. The firm has already started processing San Luis ore on a smaller scale at the end of the quarter. We believe that San Luis should be a key source of future growth for the firm and highlight that the area has a significant resource base as of the latest estimate announced in February.”

According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.6% and a 24.6% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Northern Dynasty Minerals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avino Silver & Gold with a $2.90 average price target.

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Based on Avino Silver & Gold’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $839K. In comparison, last year the company had a GAAP net loss of $715.8K.

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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.

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