Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on Avino Silver & Gold, boosting the price target to $6.10.
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Heiko Ihle has given his Buy rating due to a combination of factors including Avino Silver & Gold Mines’ recent production results and ongoing project developments. Despite a year-over-year decline in silver equivalent ounces, the company’s production was largely in line with expectations, and improvements in mill availability due to automation upgrades have supported higher throughput. Additionally, gold production saw a notable increase, driven by enhanced recovery rates.
Avino’s strong financial position, with $55 million in cash, provides the liquidity needed for continued improvements and exploration efforts. The progress at the La Preciosa site, including successful vein interceptions and ongoing infrastructure development, further supports the company’s growth prospects. The ongoing exploration at Elena Tolosa, aimed at extending the Avino Vein, is expected to contribute to future mining plans and resource estimates, reinforcing the positive outlook for the company.