Want to see TSE:ASM full AI Analyst Report?
Top Page
Avino Silver & Gold
(TSX:ASM)
Select Model
Select Model
Rating:77Outperform
Price Target:
C$11.00
▲(4.76% Upside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by strong financial performance (high margins, low leverage, improved returns) and a positive earnings-call outlook supported by record liquidity and meaningful reserves/resources progress. Technicals add support via an uptrend and positive MACD, but high volatility (beta) and somewhat expensive valuation (P/E ~25.7 with no dividend yield provided) reduce the overall score.
Positive Factors
Strong profitability and improving revenue
The sharp improvement in revenue and margins indicates stronger operating execution and/or realized metal economics. High current profitability can fund development internally, although sustaining it depends on grades, recoveries and metal prices.
Negative Factors
Cyclical earnings and uneven free cash flow
The history shows that reported earnings and cash generation can weaken sharply across operating or commodity cycles. This makes funding for expansion less predictable and increases dependence on sustained metal prices, production performance and working-capital discipline.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and improving revenue
The sharp improvement in revenue and margins indicates stronger operating execution and/or realized metal economics. High current profitability can fund development internally, although sustaining it depends on grades, recoveries and metal prices.
Read all positive factors
Avino Silver & Gold (ASM) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.76B
Dividend YieldN/A
Average Volume (3M)632.42K
Price to Earnings (P/E)27.8
Beta (1Y)3.50
Revenue Growth54.43%
EPS Growth148.97%
CountryCA
Employees395
SectorBasic Materials
Sector Strength58
IndustryOther Precious Metals
Share Statistics
EPS (TTM)0.27
Shares Outstanding169,855,270
10 Day Avg. Volume681,934
30 Day Avg. Volume632,424
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)3.93
Price to Sales (P/S)10.60
P/FCF Ratio803.25
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$12.41Price Target Upside18.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.35
Revenue Forecast (FY)C$148.75M
Avino Silver & Gold Business Overview & Revenue Model
Company Description
Avino Silver & Gold Mines Ltd., together with its subsidiaries, engages in the acquisition, exploration, and advancement of mineral properties in Mexico. It explores for silver, gold, copper, and base metal deposits. The company holds 100% interes...
How the Company Makes Money
Avino generates revenue primarily by producing and selling metal products derived from mined ore. The company extracts ore from its mining areas and processes it through its mill to create saleable metal-bearing concentrates (typically containing ...
Avino Silver & Gold Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial picture: strong cash generation, record liquidity, meaningful inaugural mineral reserves and resource growth, and clear progress at La Preciosa (59% development production increase). Material near-term headwinds were disclosed — a $5M provisional pricing hit, strengthened Mexican peso (≈12–15%), elevated short-term costs from processing development ore (cash cost/ton $74.72; AISC $96) and some timing uncertainty around ramp and optimization studies. On balance the strengths (profitability, balance sheet, reserves, production progress and exploration upside) materially outweigh the disclosed short-term cost and timing challenges.Positive Updates
Record liquidity and strong balance sheet
Cash of $144–145 million and working capital of $141 million at quarter end; no secured debt other than equipment leases — provides flexibility to fund growth and development.
Negative Updates
Provisional pricing adjustments and inventory impact
Provisional pricing adjustments reduced revenue and margins by approximately $5.0 million in the quarter; an increased amount of concentrate inventory at quarter end further weighed on reported results.
Read all updates
Q2-2026 Updates
Positive
Negative
Record liquidity and strong balance sheet
Cash of $144–145 million and working capital of $141 million at quarter end; no secured debt other than equipment leases — provides flexibility to fund growth and development.
Read all positive updates
Company Guidance
The company’s forward guidance centers on an aggressive 2026 exploration and ramp-up plan: a total ~30,000 m of drilling budgeted (15,000 m at La Preciosa and 15,000 m at the Avino mine) with 6.59k m completed at La Preciosa by Q2 and additional drills being added, a La Preciosa production target of ~500 tpd, ongoing trade‑off studies (including a potential stand‑alone La Preciosa plant) and a stated pathway toward a 10 million oz silver‑equivalent profile; this builds on inaugural proven & probable reserves of 27.0 million tons (127 million Ag‑equivalent oz at 145 g/t), M&I resources of 67.7 Mt (301M Ag‑eq oz at 102 g/t) and inferred resources of 24.8 Mt (87.6M Ag‑eq oz at 123 g/t). Financial and operating metrics tied to the plan include Q2 consolidated production of 535k Ag‑eq oz on 185k tons mill feed (La Preciosa contributed ~100k Ag‑eq oz, ~85k Ag oz and 182 Au oz), Q2 revenue of $26.8M, cash $144M and working capital $141M, Q2 net income $10.9M ($0.06/share), operating cash flow $13.3M, free cash flow $5.6M (excluding La Preciosa development and exploration), a Q2 consolidated cash cost/ton of $74.72 (YTD ~$70/ton), Q2 AISC ~$96/Ag‑eq oz (using 2026 budget prices cash cost would be ~$24.07/oz and AISC ~$30.28/Ag‑eq oz), and ongoing capital allocation actions including an NCIB that repurchased >500k shares.Avino Silver & Gold Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 119.97M | 86.66M | 66.18M | 43.89M | 44.19M | 11.23M |
| Gross Profit | 66.42M | 41.83M | 23.20M | 7.82M | 15.06M | 3.55M |
| EBITDA | 63.04M | 33.38M | 18.19M | 2.79M | 9.96M | 522.00K |
| Net Income | 44.59M | 27.11M | 8.10M | 542.00K | 3.10M | -2.06M |
Balance Sheet | ||||||
| Total Assets | 322.00M | 287.20M | 148.71M | 128.34M | 121.20M | 86.28M |
| Cash, Cash Equivalents and Short-Term Investments | 144.55M | 101.54M | 27.32M | 2.69M | 11.24M | 24.77M |
| Total Debt | 8.57M | 6.00M | 2.63M | 3.45M | 6.64M | 1.07M |
| Total Liabilities | 39.89M | 53.59M | 23.31M | 22.34M | 23.18M | 7.77M |
| Stockholders Equity | 282.11M | 233.60M | 125.40M | 106.00M | 98.02M | 78.51M |
Cash Flow | ||||||
| Free Cash Flow | 17.06M | 1.14M | 18.67M | -5.89M | 4.00M | -1.80M |
| Operating Cash Flow | 44.81M | 27.90M | 23.12M | 1.49M | 11.83M | 109.00K |
| Investing Cash Flow | -27.56M | -27.35M | -6.56M | -13.53M | -24.10M | -3.21M |
| Financing Cash Flow | 90.38M | 75.15M | 8.02M | 3.49M | -1.15M | 16.09M |
Avino Silver & Gold Technical Analysis
Positive
10.50
Price Trends
8.95
Positive
9.19
Positive
9.46
Positive
Market Momentum
0.48
Negative
62.32
Neutral
65.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ASM, the sentiment is Positive. The current price of 10.5 is above the 20-day moving average (MA) of 9.49, above the 50-day MA of 8.95, and above the 200-day MA of 9.46, indicating a bullish trend. The MACD of 0.48 indicates Negative momentum. The RSI at 62.32 is Neutral, neither overbought nor oversold. The STOCH value of 65.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:ASM.
Avino Silver & Gold Risk Analysis
Avino Silver & Gold disclosed 42 risk factors in its most recent earnings report. Avino Silver & Gold reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Avino Silver & Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | C$1.94B | 28.96 | 11.73% | ― | 63.57% | 227.78% | |
77 Outperform | C$1.76B | 27.82 | 18.43% | ― | 54.43% | 148.97% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$580.98M | -89.57 | -3.50% | ― | ― | 4.13% | |
50 Neutral | C$1.80B | -288.30 | -2.99% | ― | ― | 9.12% | |
47 Neutral | C$2.60B | -37.60 | -104.74% | ― | ― | -40.34% | |
46 Neutral | C$502.90M | -23.89 | -83.56% | ― | ― | 27.81% |
* Basic Materials Sector Average
TSE:ASM
Avino Silver & Gold
10.50
4.52
75.59%
TSE:BRC
Blackrock Silver
1.29
0.57
79.17%
TSE:SLVR
Silver Tiger Metals
1.03
0.35
51.47%
TSE:GGD
GoGold Resources
4.40
2.05
87.23%
TSE:ABRA
AbraSilver Resource
16.06
10.00
165.02%
TSE:NUAG
New Pacific Metals
9.92
7.58
323.93%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.