Earnings call transcript: Avino Silver & Gold Mines Q4 2024 reports record revenue, stock surges
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2025
0mins
Source: SeekingAlpha
Revenue (Q4 2024) $24,400,000, a record high, reflecting a strong operational performance and higher metal prices.
Gross Profit Margin (Q4 2024) 43%, with a cash basis gross profit margin of 49%, up from 45% in the last quarter.
Free Cash Flow (Q4 2024) $14,100,000, translating to $0.1 per share, driven by record revenues and operational efficiencies.
All-in Sustaining Cash Cost per Silver Equivalent Ounce (Q4 2024) CAD $18.62, the lowest since 2022, representing a reduction of 8% on a cash basis and 14% on an all-in cash basis.
Annual Revenue (2024) CAD $66.2 million, a record high, representing a 51% increase from 2023, primarily driven by growth in Q4.
Net Income (2024) $8,100,000 or $0.06 per share, with adjusted earnings of $21,300,000 or $0.15 per share after non-recurring expenses.
Mine Operating Cash Flows (2024) $27,600,000, reflecting strong operational performance.
All-in Sustaining Cash Cost per Silver Equivalent Ounce (2024) $20.57, a 6% decrease from 2023, driven by higher grades and production.
Cash Position (End of 2024) $27,300,000, a significant increase from under $8,000,000 at the end of Q3 2024, driven by improved operational performance.
Capital Expenditures (Q4 2024) $1,500,000, and $6,600,000 for the year, below guidance due to deferral of expenditures.
Cash Cost per Ounce (2024) $14.84, a 5% reduction from 2023.
Cash Cost per Tonne Processed (Q4 2024) $51.11, a 17% reduction compared to Q4 2023.
All-in Cash Cost per Tonne Processed (Q4 2024) $74.29, a 16% decrease compared to Q4 2023.
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Analyst Views on ASM
Wall Street analysts forecast ASM stock price to rise
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 7.160
Low
7.25
Averages
9.50
High
12.50
Current: 7.160
Low
7.25
Averages
9.50
High
12.50
About ASM
Avino Silver & Gold Mines Ltd. is a Canada-based company. The Company is engaged in the production and sale of silver, gold, and copper and the acquisition, exploration, and advancement of mineral properties. The Company also maintains a diversified pipeline of gold and base metals' exploration properties. It operates the Elena Tolosa Mine (Avino Mine), which produces copper, silver and gold at the Avino property in the state of Durango, Mexico. The Avino property also hosts the San Gonzalo Mine, which is in care and maintenance. The Company also holds a 100% interest in Proyectos Mineros La Preciosa S.A. de C.V. (La Preciosa), a Mexican corporation, which owns the La Preciosa Property. The Company also owns interests in mineral properties located in British Columbia. La Preciosa is a development stage mineral property located in the state of Durango, Mexico. Its other properties include El Hueco and Aranjuez.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Avino Silver & Gold Reports Strong Q1 Earnings
- Earnings Highlights: Avino Silver & Gold reported a Q1 non-GAAP EPS of $0.14 with revenues of $39.4 million, reflecting a 109.6% year-over-year increase, surpassing market expectations by $0.21 million, indicating robust profitability and a recovery in market demand.
- Production Capacity Growth: The company indicated plans to triple its production capacity in the future, a strategic goal that will further solidify its market position in the silver and gold mining sector and attract more investor interest.
- Share Repurchase Plan: Avino announced a common share repurchase, demonstrating confidence in its stock value while potentially enhancing EPS and shareholder returns, which could further boost market confidence.
- Optimistic Market Outlook: With rising gold and silver prices and improved production efficiency, Avino's future financial performance is widely anticipated to attract more institutional investors, driving stock price appreciation.
See More
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- Earnings Announcement: Avino Silver & Gold Mines is set to announce its Q1 2023 earnings on May 13th after market close, with a consensus EPS estimate of $0.10, reflecting a significant year-over-year growth of 42.9%, indicating strong profitability.
- Revenue Expectations: Analysts project that Avino's Q1 revenue will reach $39.19 million, showcasing a stable growth trend within the silver and gold mining sector, which further solidifies the company's market position.
- Historical Performance: Over the past two years, Avino has beaten EPS estimates 100% of the time and revenue estimates 63% of the time, demonstrating consistency and reliability in financial performance, which boosts investor confidence.
- Production Goals: Despite facing a rating downgrade, Avino remains committed to tripling its production capacity in the future, highlighting its ambitious long-term strategy and potential for market expansion.
See More
Nord Precious Metals Reports New Silver Exploration Results
- Silver Exploration Results: Nord Precious Metals reported assay results from hole CS-26-129W2 at the Castle East project, revealing 2,343.70 g/t silver (68.4 oz/ton) over 1.85 meters, including a remarkable 9,510 g/t silver (277.6 oz/ton) over 0.30 meters, indicating significant potential for future resource assessments and production plans in the region.
- Drilling Program Initiation: The company has commenced a fully funded 5,000-meter drilling phase, continuing its broader 30,000-meter program aimed at confirming and expanding silver resources in the Castle-Gowganda area, thereby enhancing its competitive position in the market.
- New Mineralized Intercept: A new mineralized intercept was identified in hole CS-21-73W1, showcasing the presence of native silver and cobalt arsenide, which extends the known mineralization footprint at Castle East, with pending assays expected to provide critical data for resource updates.
- Market Context Analysis: With silver trading near $78 per ounce and an anticipated supply deficit of 46.3 million ounces by 2026, Nord's high-grade silver discovery positions the company favorably in an increasingly tight market, driving future growth potential.
See More
Avino Silver & Gold Mines Approved for Share Buyback
- Buyback Plan Initiated: Avino Silver & Gold Mines has received approval from the Toronto Stock Exchange to repurchase up to 8.43 million common shares, representing approximately 5% of its total shares as of March 31, 2026, aimed at enhancing shareholder value and optimizing capital structure.
- Repurchase Timeline: The buyback commenced on April 8, 2026, and will continue until April 7, 2027, indicating the company's confidence in future market performance and its intention to boost earnings per share by reducing the number of shares outstanding.
- Positive Market Reaction: Following the announcement, Avino's stock price rose 1.6% in premarket trading to $6.64, reflecting investor approval of the buyback plan and optimism regarding the company's growth potential.
- Strategic Implications: This buyback not only strengthens the company's financial position but also lays the groundwork for future production expansion, demonstrating Avino's commitment to growth while prioritizing shareholder returns.
See More
Perritt Capital Management Exits Vanguard International Dividend Appreciation ETF
- Complete Exit: Perritt Capital Management disclosed in a SEC filing dated February 17, 2026, that it sold all 116,495 shares of Vanguard International Dividend Appreciation ETF (VIGI), resulting in a $10.43 million decline in the position's quarter-end value, now comprising 0% of reported AUM.
- Impact of Position Change: Previously accounting for 4.9% of the fund's AUM, this complete exit not only affects Perritt's portfolio diversification but may also negatively impact future returns, particularly in the international dividend growth sector.
- ETF Performance Overview: As of February 17, 2026, VIGI's share price was $85.61, reflecting a 4.91% increase over the past year, indicating its stability and attractiveness in the international market, although Perritt's exit may affect market confidence.
- Investor Strategy Adjustment: VIGI focuses on international companies with stable earnings and disciplined capital allocation, offering lower current yields but potentially stable long-term returns, and Perritt's exit may prompt other investors to reassess their holding strategies.
See More
Perritt Capital Management Exits VIGI Position
- Position Change: Perritt Capital Management disclosed in a SEC filing dated February 17, 2026, that it has fully sold 116,495 shares of Vanguard International Dividend Appreciation ETF (VIGI), resulting in a $10.43 million decrease in position value and reducing its stake from 4.9% to 0% of fund AUM.
- Impact on AUM: This transaction led to a 17.45% drop in Perritt's reportable AUM in the 13F report, indicating a significant withdrawal from the international dividend growth space, which may affect its future investment strategies and market confidence.
- Market Performance: As of February 17, 2026, VIGI was priced at $85.61, up 4.91% over the past year; despite Perritt's exit, the ETF continues to provide exposure to high-quality international companies, emphasizing its strengths in stable earnings and capital allocation.
- Investment Strategy Analysis: VIGI's investment strategy focuses on tracking an index of high-quality international companies, and while Perritt's exit may impact short-term capital flows, the ETF's long-term performance remains reliant on global market stability and currency fluctuations, making it suitable for investors seeking long-term earnings stability.
See More
Avino Silver & Gold Reports Strong Q1 Earnings
- Earnings Highlights: Avino Silver & Gold reported a Q1 non-GAAP EPS of $0.14 with revenues of $39.4 million, reflecting a 109.6% year-over-year increase, surpassing market expectations by $0.21 million, indicating robust profitability and a recovery in market demand.
- Production Capacity Growth: The company indicated plans to triple its production capacity in the future, a strategic goal that will further solidify its market position in the silver and gold mining sector and attract more investor interest.
- Share Repurchase Plan: Avino announced a common share repurchase, demonstrating confidence in its stock value while potentially enhancing EPS and shareholder returns, which could further boost market confidence.
- Optimistic Market Outlook: With rising gold and silver prices and improved production efficiency, Avino's future financial performance is widely anticipated to attract more institutional investors, driving stock price appreciation.
See More
Avino Silver & Gold Mines Set to Release Q1 Earnings
- Earnings Announcement: Avino Silver & Gold Mines is set to announce its Q1 2023 earnings on May 13th after market close, with a consensus EPS estimate of $0.10, reflecting a significant year-over-year growth of 42.9%, indicating strong profitability.
- Revenue Expectations: Analysts project that Avino's Q1 revenue will reach $39.19 million, showcasing a stable growth trend within the silver and gold mining sector, which further solidifies the company's market position.
- Historical Performance: Over the past two years, Avino has beaten EPS estimates 100% of the time and revenue estimates 63% of the time, demonstrating consistency and reliability in financial performance, which boosts investor confidence.
- Production Goals: Despite facing a rating downgrade, Avino remains committed to tripling its production capacity in the future, highlighting its ambitious long-term strategy and potential for market expansion.
See More
Nord Precious Metals Reports New Silver Exploration Results
- Silver Exploration Results: Nord Precious Metals reported assay results from hole CS-26-129W2 at the Castle East project, revealing 2,343.70 g/t silver (68.4 oz/ton) over 1.85 meters, including a remarkable 9,510 g/t silver (277.6 oz/ton) over 0.30 meters, indicating significant potential for future resource assessments and production plans in the region.
- Drilling Program Initiation: The company has commenced a fully funded 5,000-meter drilling phase, continuing its broader 30,000-meter program aimed at confirming and expanding silver resources in the Castle-Gowganda area, thereby enhancing its competitive position in the market.
- New Mineralized Intercept: A new mineralized intercept was identified in hole CS-21-73W1, showcasing the presence of native silver and cobalt arsenide, which extends the known mineralization footprint at Castle East, with pending assays expected to provide critical data for resource updates.
- Market Context Analysis: With silver trading near $78 per ounce and an anticipated supply deficit of 46.3 million ounces by 2026, Nord's high-grade silver discovery positions the company favorably in an increasingly tight market, driving future growth potential.
See More
Avino Silver & Gold Mines Approved for Share Buyback
- Buyback Plan Initiated: Avino Silver & Gold Mines has received approval from the Toronto Stock Exchange to repurchase up to 8.43 million common shares, representing approximately 5% of its total shares as of March 31, 2026, aimed at enhancing shareholder value and optimizing capital structure.
- Repurchase Timeline: The buyback commenced on April 8, 2026, and will continue until April 7, 2027, indicating the company's confidence in future market performance and its intention to boost earnings per share by reducing the number of shares outstanding.
- Positive Market Reaction: Following the announcement, Avino's stock price rose 1.6% in premarket trading to $6.64, reflecting investor approval of the buyback plan and optimism regarding the company's growth potential.
- Strategic Implications: This buyback not only strengthens the company's financial position but also lays the groundwork for future production expansion, demonstrating Avino's commitment to growth while prioritizing shareholder returns.
See More
Perritt Capital Management Exits Vanguard International Dividend Appreciation ETF
- Complete Exit: Perritt Capital Management disclosed in a SEC filing dated February 17, 2026, that it sold all 116,495 shares of Vanguard International Dividend Appreciation ETF (VIGI), resulting in a $10.43 million decline in the position's quarter-end value, now comprising 0% of reported AUM.
- Impact of Position Change: Previously accounting for 4.9% of the fund's AUM, this complete exit not only affects Perritt's portfolio diversification but may also negatively impact future returns, particularly in the international dividend growth sector.
- ETF Performance Overview: As of February 17, 2026, VIGI's share price was $85.61, reflecting a 4.91% increase over the past year, indicating its stability and attractiveness in the international market, although Perritt's exit may affect market confidence.
- Investor Strategy Adjustment: VIGI focuses on international companies with stable earnings and disciplined capital allocation, offering lower current yields but potentially stable long-term returns, and Perritt's exit may prompt other investors to reassess their holding strategies.
See More
Perritt Capital Management Exits VIGI Position
- Position Change: Perritt Capital Management disclosed in a SEC filing dated February 17, 2026, that it has fully sold 116,495 shares of Vanguard International Dividend Appreciation ETF (VIGI), resulting in a $10.43 million decrease in position value and reducing its stake from 4.9% to 0% of fund AUM.
- Impact on AUM: This transaction led to a 17.45% drop in Perritt's reportable AUM in the 13F report, indicating a significant withdrawal from the international dividend growth space, which may affect its future investment strategies and market confidence.
- Market Performance: As of February 17, 2026, VIGI was priced at $85.61, up 4.91% over the past year; despite Perritt's exit, the ETF continues to provide exposure to high-quality international companies, emphasizing its strengths in stable earnings and capital allocation.
- Investment Strategy Analysis: VIGI's investment strategy focuses on tracking an index of high-quality international companies, and while Perritt's exit may impact short-term capital flows, the ETF's long-term performance remains reliant on global market stability and currency fluctuations, making it suitable for investors seeking long-term earnings stability.
See More
