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


H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Avino Silver & Gold (ASM) today and set a price target of $1.75. The company’s shares closed yesterday at $0.65, close to its 52-week low of $0.50.

Ihle observed:

“We note that Mill Circuit 4 was able to achieve its rated capacity of 1,000 tonnes per day (tpd) within the first week of commissioning. Additionally, an updated mineral resource estimate at Avino resulted in a 225% tonnage increase of the measured and indicated mineral resources. Drilling highlights include a 19-hole drill program at Chirumbo, where grade continuity and further extension of the Avino vein could be traced out. Mine also returned a range of gold, silver, and copper grades. We highlight an extensive 24,000-meter drill program at the company’s Bralorne Gold Mine where holes targeting the 27 Vein confirmed vein continuity up dip from historically mined areas, with the best assays intercepting gold grades of 29.5 grams per tonne (g/t) over 0.88 meters.”

According to TipRanks.com, Ihle is ranked 0 out of 5 stars with an average return of -7.6% and a 33.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Avino Silver & Gold with a $2.25 average price target.

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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.

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