Avino Silver & Gold Mines (NYSE:ASM) Shares Down 7.1% – Here’s What Happened

Shares of Avino Silver & Gold Mines Ltd. (NYSE:ASM) dropped 7.1% during trading on Wednesday. The stock traded as low as $6.02 and last traded at $6.0310. Approximately 652,887 shares changed hands during trading, a decline of 87% from the average session volume of 4,993,438 shares. The stock had previously closed at $6.49.

Wall Street Analyst Weigh In

ASM has been the subject of a number of analyst reports. Roth Capital upped their price objective on shares of Avino Silver & Gold Mines from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 25th. HC Wainwright raised their target price on Avino Silver & Gold Mines from $10.25 to $10.50 and gave the company a “buy” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Avino Silver & Gold Mines has an average rating of “Moderate Buy” and an average price target of $8.92.

Avino Silver & Gold Mines Trading Down 2.2%

The company’s fifty day simple moving average is $6.63 and its 200-day simple moving average is $6.62. The firm has a market capitalization of $1.00 billion, a PE ratio of 295.65 and a beta of 1.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.36 and a quick ratio of 1.43.

Hedge Funds Weigh In On Avino Silver & Gold Mines

A number of hedge funds have recently made changes to their positions in ASM. PNC Financial Services Group Inc. purchased a new position in Avino Silver & Gold Mines in the 1st quarter worth approximately $29,000. State of Wyoming increased its stake in shares of Avino Silver & Gold Mines by 48.6% in the 1st quarter. State of Wyoming now owns 20,428 shares of the company’s stock worth $127,000 after acquiring an additional 6,685 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Avino Silver & Gold Mines in the 1st quarter worth $44,000. Baader Bank Aktiengesellschaft raised its holdings in shares of Avino Silver & Gold Mines by 35.1% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 29,000 shares of the company’s stock worth $183,000 after acquiring an additional 7,528 shares during the period. Finally, Euro Pacific Asset Management LLC purchased a new position in shares of Avino Silver & Gold Mines during the 1st quarter worth $63,000. Institutional investors and hedge funds own 3.11% of the company’s stock.

About Avino Silver & Gold Mines

Avino Silver & Gold Mines Ltd. is a Canadian mining and mineral exploration company focused on the acquisition, development and operation of precious- and base-metal properties. Its principal operating asset is the Avino Mine in Durango, Mexico, which produces silver, gold and copper from underground mining and processing operations.

The Avino property has a long production history, with mining dating back to the 16th century and modern commercial production beginning in the 1970s.