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 $2. The company’s shares closed yesterday at $0.63, close to its 52-week low of $0.50.
Ihle wrote:
“We highlight that production for 2018 was marginally higher than our estimate of 2.8 million SEOs. Production for 4Q18 totaled 720,187 YoY increase, mainly due to gold and copper production rising 34% and 24%, respectively. We note that this was slightly negated by a 10% decrease in silver production. In our view, the completion of Mill Circuit 4 has positioned Avino to reproduce similar production numbers in 2019, relative to those in 2018, amid continued efficiency improvements at the site.”
According to TipRanks.com, Ihle has currently no stars on a ranking scale of 0-5 stars, with an average return of -12.0% and a 19.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.
Avino Silver & Gold has an analyst consensus of Moderate Buy, with a price target consensus of $2.
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Based on Avino Silver & Gold’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $1.01 million. In comparison, last year the company had a net profit of $1.5 million.
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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.
