Avino Silver & Gold (ASM) AI Stock Analysis

• Market Cap: C$1.91B
• Dividend Yield: N/A
• Average Volume (3M): 741.14K
• Price to Earnings (P/E): 60.7
• Beta (1Y): 3.09
• Revenue Growth: 65.77%
• EPS Growth: 458.38%
• Country: CA
• Employees: 239
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Other Precious Metals
• EPS (TTM): 0.07
• Shares Outstanding: 156,848,420
• 10 Day Avg. Volume: 1,142,338
• 30 Day Avg. Volume: 741,142
• PEG Ratio: 0.01
• Price to Book (P/B): 0.94
• Price to Sales (P/S): 1.78
• P/FCF Ratio: 6.31
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$12.94
• Price Target Upside: 0.01% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: C$16.50 ▲(27.51% Upside)

The score is driven primarily by strong financial performance (high margins and low leverage) and a constructive earnings-call outlook (record cash and operational progress). The main drags are elevated valuation (P/E 50.445) and stretched technical momentum (RSI ~71, Stoch ~81) despite a clear uptrend.

Positive Factors

High Profitability & Margins

Sustained high gross, EBITDA and net margins indicate structurally efficient operations and cost control across the asset base. Durable margins improve resilience to commodity cycles, fund reinvestment and exploration, and support long-term cash generation even if prices moderate.

Conservative Balance Sheet

Extremely low leverage and a strong equity ratio provide financial flexibility for capital-intensive mining activity. This reduces refinancing and solvency risk, enables opportunistic funding of La Preciosa development and exploration, and preserves strategic optionality through cycles.

Execution and Rising Production Base

Rapid ramp of La Preciosa and on‑guidance 2025 production demonstrate operational capability and scalable execution. Converting development into mill throughput supports higher, more diversified production and underpins the company’s multi-asset growth plan and longer-term reserve conversion.

Negative Factors

Declining Free Cash Flow

A large drop in free cash flow reduces internally available capital for sustaining capital, exploration and debt-free expansion. Even with healthy operating cash conversion, persistent FCF erosion can force trade-offs between growth, dividends or external financing, weakening long-term flexibility.

Rising Unit Costs

Material increases in cash costs and AISC pressure margins and project returns. If higher unit costs persist, they can erode the advantage of production growth, reduce incremental free cash flow from new tonnes, and expose the business to competitiveness risk versus lower-cost peers.

Currency and Tariff Exposure

Concentrated Mexican operations expose Avino to exchange-rate swings and possible tariff or policy shifts. Such structural country and currency risks can increase operating cost volatility, complicate long-term planning and partially offset benefits from strong domestic execution and margins.

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 Canada. It primarily explores for silver, gold, and copper deposits. The company owns interests in 42 mineral claims and four leased mineral claims, including Avino mine area property comprising four exploration concessions covering 154.4 hectares, 24 exploitation concessions covering 1,284.7 hectares, and one leased exploitation concession covering 98.83 hectares; Gomez Palacio property consists of nine exploration concessions covering 2,549 hectares; Santiago Papasquiaro property comprises four exploration concessions covering 2,552.6 hectares and one exploitation concession covering 602.9 hectares; and Unification La Platosa properties, which include three leased concessions located in the state of Durango, Mexico. It also owns 100% interests in the Minto and Olympic-Kelvin properties located in British Columbia, Canada; and 14 quartz leases in Eagle property located in the Mayo Mining Division of Yukon, Canada. The company was incorporated in 1968 and is headquartered in Vancouver, Canada.

How the Company Makes Money

Avino Silver & Gold generates revenue primarily through the extraction and sale of silver and gold from its mining operations. The company operates several mines, with a significant portion of its earnings coming from the sale of mined precious metals. Key revenue streams include the direct sale of silver and gold bullion, which are sold to refiners and other buyers in the precious metals market. Additionally, Avino may benefit from the rising prices of silver and gold, which can significantly enhance its profitability. The company also looks to optimize its operational efficiency to lower production costs and improve margins. Partnerships with local and international distributors for the sale of its products contribute to its revenue, along with potential joint ventures that expand its mining capabilities.

Avino Silver & Gold Financial Statement Overview

Summary

Strong profitability and operating efficiency (gross margin 46.40%, net margin 18.51%, EBITDA margin 38.25%) and a stable, low-leverage balance sheet (debt-to-equity 0.038, equity ratio 82.06%). The main offset is weaker cash generation trend, with free cash flow down 54.82% TTM despite solid operating cash flow conversion (OCF/net income 1.55).

Income Statement

Avino Silver & Gold has shown strong revenue growth with an 8.07% increase in the TTM period. The company has improved its profitability significantly, with a gross profit margin of 46.40% and a net profit margin of 18.51%. The EBIT and EBITDA margins are also robust at 33.87% and 38.25%, respectively, indicating efficient operations and cost management. Overall, the income statement reflects a positive growth trajectory and strong profitability.

Balance Sheet

The balance sheet of Avino Silver & Gold is stable, with a low debt-to-equity ratio of 0.038, indicating minimal leverage and financial risk. The return on equity (ROE) is 11.41%, showcasing effective use of equity to generate profits. The equity ratio stands at 82.06%, reflecting a strong equity base relative to total assets. The company maintains a solid financial position with low leverage and good returns on equity.

Cash Flow

The cash flow statement shows a mixed picture. While the operating cash flow to net income ratio is healthy at 1.55, indicating strong cash generation relative to net income, the free cash flow has decreased by 54.82% in the TTM period. The free cash flow to net income ratio is 0.72, suggesting that a significant portion of net income is converted into free cash flow. Despite the decline in free cash flow, the company maintains a reasonable cash flow position.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	86.06M	66.18M	43.89M	44.19M	11.23M	16.02M
Gross Profit	41.15M	23.20M	7.82M	15.06M	3.55M	190.00K
EBITDA	38.37M	18.19M	2.79M	9.96M	522.00K	-6.95M
Net Income	21.27M	8.10M	542.00K	3.10M	-2.06M	-7.65M
Balance Sheet
Total Assets	221.86M	148.71M	128.34M	121.20M	86.28M	68.78M
Cash, Cash Equivalents and Short-Term Investments	57.33M	27.32M	2.69M	11.24M	24.77M	11.71M
Total Debt	4.67M	2.63M	3.45M	6.64M	1.07M	3.07M
Total Liabilities	39.74M	23.31M	22.34M	23.18M	7.77M	9.77M
Stockholders Equity	182.12M	125.40M	106.00M	98.02M	78.51M	59.01M
Cash Flow
Free Cash Flow	9.39M	18.67M	-5.89M	4.00M	-1.80M	-1.94M
Operating Cash Flow	32.99M	23.12M	1.49M	11.83M	109.00K	72.00K
Investing Cash Flow	-24.35M	-6.56M	-13.53M	-24.10M	-3.21M	-2.17M
Financing Cash Flow	40.92M	8.02M	3.49M	-1.15M	16.09M	4.20M

Avino Silver & Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 12.94
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 12.94 is above the 20-day moving average (MA) of 10.83, above the 50-day MA of 9.14, and above the 200-day MA of 6.32, indicating a bullish trend. The MACD of 1.38 indicates Negative momentum. The RSI at 61.86 is Neutral, neither overbought nor oversold. The STOCH value of 59.02 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 Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASM	74 Outperform	C$1.91B	60.67	14.35%	―	65.77%	458.38%
GGD	74 Outperform	C$1.22B	48.39	5.38%	―	104.08%	832.86%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NUAG	60 Neutral	$840.98M	-170.45	-2.40%	―	―	40.00%
SLVR	53 Neutral	C$519.13M	-86.49	-4.86%	―	―	-14.43%
BRC	47 Neutral	C$520.73M	-18.24	-151.33%	―	―	-198.87%
ABRA	41 Neutral	C$1.90B	-34.73	-122.96%	―	―	-171.41%

Avino Silver & Gold Corporate Events

Avino’s La Preciosa Drilling Confirms High-Grade Silver and Prompts Rethink of Mining Plan

Avino Silver & Gold Mines reported assay results from six drill holes at its La Preciosa project, completing the company’s 2025 drilling program and confirming high-grade silver-gold mineralization in the La Gloria and Abundancia veins. The intercepts, which include standout grades such as 585 g/t silver over 4.9 metres and 694 g/t silver over 4.52 metres, exceeded grade expectations and validated the current vein-based resource model, prompting management to reconsider the planned underground mining method in favor of approaches that could accommodate larger tonnage per blast and lower costs, potentially enhancing the project’s economics and supporting future reserve updates and development plans.

The most recent analyst rating on (TSE:ASM) stock is a Hold with a C$13.00 price target. To see the full list of analyst forecasts on Avino Silver & Gold stock, see the TSE:ASM Stock Forecast page.

Avino Hits 2025 Output Targets as La Preciosa Fast-Tracks Silver Growth

Avino Silver & Gold Mines reported full-year 2025 production of 1.16 million ounces of silver, 7,621 ounces of gold and 5.67 million pounds of copper, totaling 2.6 million silver-equivalent ounces, in line with its guidance of 2.5–2.8 million silver-equivalent ounces. Fourth-quarter output reached 671,583 silver-equivalent ounces, with silver accounting for more than half, marking a return to primary silver producer status and underscoring the operational contribution of the La Preciosa project. The company highlighted rapid progress at La Preciosa, moving from the start of underground development in January 2025 to extracting, hauling, processing and selling mineralized material within a year, and processing nearly 12,000 tonnes from the new mine in the fourth quarter alone. Mill throughput rose 14% for the full year and 4% in the fourth quarter versus the prior-year periods, driven by upgrades and automation that improved availability, while consolidated silver output increased 4%, aided by La Preciosa’s 48,244 silver ounces. Avino also reported meaningful health and safety gains, with lost time incident frequency and total reportable lost time incident rates both declining by more than 27% and 30% respectively, bolstering its operational profile as it advances the next phase of its growth strategy and seeks to deliver long-term value for shareholders.

The most recent analyst rating on (TSE:ASM) stock is a Buy with a C$11.00 price target. To see the full list of analyst forecasts on Avino Silver & Gold stock, see the TSE:ASM Stock Forecast page.

Avino Silver & Gold Mines Ltd. Renews ATM Equity Program for Financial Flexibility

Avino Silver & Gold Mines Ltd. has renewed its ATM equity program, allowing the company to distribute common shares in the United States up to an aggregate sales amount of US$60 million. This move is intended to provide Avino with financial flexibility, potentially impacting its operations and market positioning by enabling strategic financial maneuvers as needed.

The most recent analyst rating on (TSE:ASM) stock is a Buy with a C$6.50 price target. To see the full list of analyst forecasts on Avino Silver & Gold stock, see the TSE:ASM Stock Forecast page.