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: 5.980
Low
7.25
Averages
9.50
High
12.50
Current: 5.980
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.
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- Weak Individual Stocks: Shares of Americas Gold and Silver dropped about 13.3%, while Avino Silver & Gold Mines saw a decline of approximately 12.1%, with these poor performances further dragging down the ETF, reflecting concerns over the profitability of these companies.
- Market Sentiment Impact: The overall weakness in silver mining stocks may lead investors to reassess their allocations within precious metal portfolios, resulting in capital outflows that could affect the financing and expansion plans of related companies.
- Uncertain Industry Outlook: Given the current market conditions, the outlook for the silver mining industry has become uncertain, prompting investors to monitor global economic trends and metal demand changes to make more informed investment decisions.
See More
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- 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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- 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
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- 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
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- 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
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- 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
