Avino Silver & Gold: Strong Balance Sheet, La Preciosa Ramp-Up, and Higher Metal Price Assumptions Underpin Reiterated Buy Rating and Raised Target

Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on Avino Silver & Gold, boosting the price target to $12.50.

Heiko Ihle has given his Buy rating due to a combination of factors tied to Avino Silver & Gold’s operating performance, balance sheet strength, and improved commodity price assumptions. He notes that Avino delivered 2025 production in line with guidance, with year-over-year growth in silver and gold output helping to offset weaker copper volumes and grades, and that solid production in a strong pricing environment should meaningfully support the company’s financial results. He also points to the company’s roughly $100 million cash position as a key positive, as it strengthens the balance sheet and provides ample funding flexibility just as new production from the La Preciosa project starts to contribute.

In addition, Ihle highlights the importance of La Preciosa, where early development output has already demonstrated attractive silver grades and is expected to add incremental low-cost production in both the near and longer term, improving Avino’s leverage to precious metals. He further justifies his positive stance by revising the long-term price deck for gold, silver, and copper upward, reflecting a macro backdrop in which spot prices have surged well above prior assumptions and continue to benefit from strong demand and safe-haven buying amid elevated geopolitical risks. Because current spot prices materially exceed even his updated forecasts and underlying demand drivers remain supportive, he sees continued upside for Avino’s revenue and cash flow, leading him to reiterate a Buy rating and raise his price target.

Ihle covers the Basic Materials sector, focusing on stocks such as Avino Silver & Gold, Endeavour Silver, and Tanzanian Royalty Exploration. According to TipRanks, Ihle has an average return of 67.5% and a 76.91% success rate on recommended stocks.

In another report released today, Alliance Global Partners also reiterated a Buy rating on the stock with a $8.75 price target.