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 $1.50. The company’s shares closed yesterday at $0.73.
“We acknowledge the transitional nature of the firm’s operations in Mexico while San Gonzalo winds down, and anticipate the high-grade nature of the hanging-wall at Avino to provide incremental improvements in both base metal and precious metal grades. Hanging-wall Breccia previously overlooked. Avino announced results from its sampling campaign targeting the Hanging-wall Breccia (HWB), a splay off of the main Avino vein. The HWB is notable as it contains high-grade material while maintaining sufficient thickness. This is made evident in hole ET-17-01, which returned 2.18 grams per tonne (gpt) gold, 606 gpt silver, and 0.35% copper over a sample interval of 0.75 meters. We note that the HWB diverges eastward and away from the Avino vein system, across a current strike length of approximately 500 m, and remains open at depth.”
According to TipRanks.com, Ihle is a 5-star analyst with an average return of 9.1% and a 55.0% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Americas Silver Corporation, 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 $1.50 average price target.
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The company has a one-year high of $1.09 and a one-year low of $0.39. Currently, Avino Silver & Gold has an average volume of 489.1K.
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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.