Avino Silver's (ASM) Q2 Earnings Beat, Revenues Rise Y/Y
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 15 2024
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Source: Yahoo Finance
Earnings Performance: Avino Silver & Gold Mines Ltd. reported a second-quarter 2024 earnings per share of 3 cents, exceeding estimates and showing significant improvement from break-even earnings in the same quarter last year, driven by increased silver equivalent sales and higher metal prices.
Production and Financial Outlook: The company achieved record revenues of $14.8 million, a 60% increase year-over-year, while also reporting a mine-operating profit of $4.7 million. Avino anticipates processing 7-7.5 million tons in 2024, aiming for production between 2.5 million and 2.8 million silver equivalent ounces.
Analyst Views on ASM
Wall Street analysts forecast ASM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for ASM is 6.47 USD with a low forecast of 5.50 USD and a high forecast of 7.40 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 7.830
Low
5.50
Averages
6.47
High
7.40
Current: 7.830
Low
5.50
Averages
6.47
High
7.40
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.
