TickerGuard
Buy Day today: Neutral (55) Mixed market breadth · no major macro event
ASM

Avino Silver & Gold Mines Ltd

Basic Materials · Other Precious Metals & Mining · listed since 2005

5.46$ +2.6% vs. previous close Closing price · As of: Oct 9, 2026
🔔 Watch stock
Add to watchlist

Share this page

LinkedIn WhatsApp Email

Assessment

Our Rating

A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.

Open questions

The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.

Why this colour

Yellow, because the business works but a material operating question is open. Avino makes money, has no bank debt and $144.8 million in cash — we see no substance risk. The open question is whether La Preciosa will offset the old mine's shrinking output: without a feasibility study, with development ore at 60 percent recovery and 315 tonnes a day in the second quarter of 2026 (target of 500 tonnes only from the second half), the ramp-up is described but not proven. Until then, earnings depend almost entirely on the silver price, more than three quarters of revenue on one customer, and the record cash pile was filled mostly by new shareholders. The P/E of about 21 is a price argument and does not change this rating. The decision is yours.

What the thesis turns on

Assessment: Opportunities & Risks

Avino is a small, profitable silver producer with a very strong balance sheet. Its SEC filings show, however, that the high silver price is masking weaknesses: the mine is delivering less metal, the cash pile comes mainly from selling new shares, and the La Preciosa growth project is being ramped up without a feasibility study. Add a dominant customer and filings with contradictory figures. Not investment advice.

Profitability

$26.6 million of net income in 2025 and $26.8 million in the first half of 2026 at a 55 percent mine margin. Driven mainly by the silver price: $68.90 per ounce in the second quarter of 2026 after $33.85 a year earlier.

Balance sheet

$144.8 million of cash, no bank debt and $282.6 million of equity as of June 30, 2026. Leases, equipment loans and the deferred royalty payment add up to $17.2 million.

Output and costs

In the second quarter of 2026, silver down 6 percent and copper down 50 percent; after six months only 28 to 35 percent of copper guidance. All-in sustaining costs per equivalent ounce of $31.81 on a guidance basis instead of $25 to $27.

Source of the cash

Of the $117.5 million increase in cash since the end of 2024, $96.6 million came from financing. 19.6 million new shares for $102.7 million; the average share count rose 18 percent within a year.

La Preciosa

First reserves since April 2026: 72 million ounces of silver in La Preciosa alone, 127 million silver-equivalent ounces across all three deposits. But no feasibility study, and about 315 tonnes of development ore a day in the second quarter of 2026 at 60 percent recovery, against a target of 500.

Customers, related parties, reporting quality

One customer with more than 75 percent of revenue in 2024 and 2025, administrative services through the CEO's company Oniva at a 2.5 percent markup, and several contradictory figures in the results release and MD&A for the period ended June 30, 2026.

Worth Noting

This analysis was triggered by our in-house Reddit hype scanner: in the October 9, 2026 reading, ASM ranked 148th with three mentions in 24 hours. There is no hit from a fundamentals scanner.

Avino reports to the SEC as a Canadian company under MJDS: annual report on Form 40-F, interim reports and news on Form 6-K. We reviewed the mandatory filings through the release of September 9, 2026.

All company figures in U.S. dollars (presentation currency); the parent's functional currency is the Canadian dollar, and most costs are incurred in Mexican pesos. The stock trades in U.S. dollars on the NYSE American and in Canadian dollars in Toronto.

Silver equivalent (AgEq) is a company conversion unit that depends on the assumed price ratios. Where possible, we therefore give the physical volumes per metal.

Twelve-month figures, enterprise value, the financing share of the cash increase ($96.6 million of $117.5 million, 82 percent) and the copper gap are our own calculations from reported figures. The three-year share price gain (about 860 percent) is based on NYSE American closing prices in U.S. dollars; the 958 percent figure is the company's.

Read the Full Deep Dive Avino Silver & Gold: No. 5 on Toronto's Leaderboard – but 82 Percent of the New Money Came From Shareholders Avino (TSX and NYSE American: ASM) ranks fifth on Toronto's TSX30 leaderboard, yet sat 51 percent below its high on October 8, 2026. Of the $117.5 million in new money in its record cash pile since year-end 2024, $96.6 million came from financing, mostly new shares — the award tells you about the last race, not the next one. Read the analysis →

Stock Watch

This analysis is as of October 9, 2026. Stock Watch will tell you what's changed at ASM since then.

Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.

Price history

Chart

Interactive price chart (TradingView).

Last price: 5.46 $ (As of: October 9, 2026)

Key figures

Key figures at a glance

Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.

Basics

Market Cap ?The value of the entire company on the market: share price times total shares outstanding. 0.9$B
Shares Outstanding ?Total number of shares issued. Price times share count gives market cap. –
Float ?Share of stock freely tradable on the market — not locked up in the hands of founders, insiders, or major shareholders. –
Beta ?Volatility versus the overall market: 1 = moves like the market, 2 = twice as much, under 1 = calmer than the market. –

Performance

Perf. 1M ?Price performance over the last month. -25.80%
Perf. 3M ?Price performance over the last 3 months. -9.80%
Perf. 6M ?Price performance over the last 6 months. -22.10%
YTD Performance (%) ?Price performance since the start of the year (Year to Date). -12.08%
52-Week-High Distance ?How far the price sits below its highest point over the last 52 weeks. 0% means the stock is at its year high. -51.4%

Valuation

P/E ?Price-to-earnings ratio: how many years of profit does the stock cost? The lower, the cheaper the valuation. No earnings means no P/E. 21.0
Forward P/E ?P/E based on expected earnings for the next 12 months instead of past earnings — analysts' bet on the future. –
PEG ?P/E divided by expected earnings growth: puts valuation in relation to growth. Around 1 is considered fair, well above that is pricey. –
P/B ?Price-to-book ratio: market value relative to book equity. 3.6
P/S ?Price-to-sales ratio: market value divided by annual sales. Important for companies that aren't (yet) profitable. 8.0
EV/EBITDA ?Enterprise value including debt (EV) relative to operating profit before depreciation and amortization (EBITDA) — more comparable than P/E because debt counts too. Extreme values arise when EBITDA is near zero. –
Price/FCF ?Market value divided by free cash flow: how many years of freely available cash does the stock cost? More honest than P/E because cash flow is harder to dress up. 53.3

Profitability

Gross Margin ?Gross margin: what's left of sales after only direct production costs are deducted — the product's pricing power. –
EBIT Margin ?EBIT margin: operating profit as a percentage of sales — the earning power of the core business before interest and taxes. 34.0%
Net Margin ?Net margin: what's left of sales as profit after ALL costs, interest, and taxes. –
Return on Equity ?Return on equity: how much profit does the company generate per year on shareholders' equity? 21.1%
Return on Assets ?Return on assets: how much profit the company generates from its total assets (equity and debt combined). –

Balance Sheet & Safety

Equity Ratio ?Equity ratio: equity as a share of total assets. The higher, the more resilient the balance sheet. 81.3%
Debt/Equity ?Leverage ratio: financial debt divided by equity. Under 1 is generally seen as solid; negative values mean negative equity. 0.01
Altman Z″ ?Edward Altman's bankruptcy early-warning score. We use the Z″ variant, built from four balance-sheet ratios — it is designed for service companies and non-manufacturers and uses book value instead of market value. On that scale: below 1.1 = danger zone, 2.6 and up = safe zone, in between a grey area. Because the classic Altman Z is calculated differently, the two numbers are not directly comparable. The formula does not fit banks, insurers, or real-estate stocks. fortress balance sheet 11.36
Piotroski ?Balance-sheet health check by Joseph Piotroski: 9 yes/no criteria on profit, cash flow, leverage, and efficiency. 7+ is very solid, under 3 is a red flag. 6 out of 9

Growth

Sales Growth Last Quarter ?Sales growth in the most recently reported quarter versus the same quarter a year ago (YoY). 22.80%
EPS Growth Last Quarter ?Growth in earnings per share in the most recently reported quarter versus the same quarter a year ago (YoY). 201.90%
Sales Growth (Year) ?Sales growth in the last fiscal year versus the year before. 30.95%
Forward Sales Growth ?Sales growth analysts expect over the next 12 months — an estimate, not a guarantee. 130.53%
Forward EPS Growth ?Earnings-per-share growth analysts expect over the next 12 months — an estimate, not a guarantee. 70.80%

Dividend

No dividend data is available for this stock yet.

Quality & Screener

Stage ?Weinstein phases 1 through 4: 1 = basing, 2 = uptrend (the only buy phase), 3 = topping, 4 = downtrend. Measured against the 30-week line. –
RS Rating ?Relative strength from 1 to 99: an RS of 95 means the stock has outperformed 95% of all stocks. –
EPS Rating ?Earnings growth rating from 1 to 99 versus all stocks — high values mean above-average earnings growth. –
Fundamental Rating ?Our own Fundamental Rating: 0 to 100 points with an A+ to F grade. 50 points is the average across the universe, 100 the best possible score. It scores growth, earnings surprises, analyst estimates, margins, cash flow, and balance-sheet safety — every stock percentile-ranked against all others. Grades: A+ from 95, A from 75, B from 55, C from 45, D from 25, E from 5, F below. A (80 out of 100)

Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.

Comparison

Industry comparison

The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.

Industry: Other Precious Metals & Mining

Industry comparison
Company Market cap ($B) P/E EV/EBITDA Gross Margin % EBIT Margin % Sales Growth (Year) % Perf. 1Y %
Avino Silver & Gold Mines Ltd ASM 0.9 21.0 – – 34.0 31.0 –
Hecla Mining Company HL 11.9 24.0 12.5 61.4 55.5 53.0 25.5
Compania de Minas Buenaventura SAA BVN 8.0 7.6 6.0 61.2 41.9 50.0 31.9
Sibanye Gold Ltd SBSW 7.2 – 4.3 29.8 13.5 15.7 -9.5
Perpetua Resources Corp PPTA 2.7 – -21.9 – 0.0 – -17.4
Sinda Ltd. SIND 2.2 – 0.0 – 0.0 – –
Solaris Resources Inc. SLSR 1.2 – -7.3 – 0.0 – 12.0
McEwen Mining Inc. MUX 1.1 13.8 20.5 37.3 -5.9 13.2 -3.6
Vox Royalty Corp. VOXR 0.4 – 6.1 94.3 – 50.5 14.3
Median of companies shown 2.2 17.4 5.2 61.2 6.8 40.5 12.0

Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →

Quarters

Quarterly Figures

Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.

Revenue & Profit

Cash Flow

Balance Sheet

Margins

Per Share

Click the chart or tab into it, then use ← and → to step through the periods.

None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.

These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.

The figures could not be loaded right now.

Sales Per Quarter ($M)
2024: Q3 · 14.6 $M Q3 2024: Q4 · 24.4 $M Q4 2025: Q1 · 18.8 $M Q1 2025: Q2 · 21.8 $M Q2 2025: Q3 · 21.0 $M Q3 2025: Q4 · 26.4 $M Q4 2026: Q1 · 41.4 $M Q1 2026: Q2 · 26.8 $M Q2

Source: fundamental data

Quarterly Figures
Quarter EPS (Earnings Per Share) EPS YoY (%) Sales ($M) Sales YoY (%) Net Margin (%) OCF ($M) FCF ($M)
2024: Q3 0.01 0.00 15 18.70 8.00 4 3
2024: Q4 0.04 809.10 24 94.60 20.90 16 14
2025: Q1 0.04 100.00 19 49.30 29.80 1 -1
2025: Q2 0.02 -33.30 22 47.50 13.10 8 4
2025: Q3 0.05 400.00 21 44.00 36.60 8 -9
2025: Q4 0.06 50.00 26 8.40 40.20 10 6
2026: Q1 0.09 125.00 41 119.90 37.90 13 11
2026: Q2 0.06 200.00 27 22.80 40.70 13 9

What Do These Terms Mean?

EPS (Earnings Per Share):
Quarterly profit divided by the total share count — how much of the profit works out to a single share.
YoY (Year over Year):
Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
Sales:
All revenue for the quarter, before any costs are deducted — the top line of the income statement.
Net Margin:
What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
OCF (Operating Cash Flow):
The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
FCF (Free Cash Flow):
Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.

Compare with other stocks →

Screening

Appears in These Scanners

This stock currently matches 4 of our scanner strategies — each hit links to the scanner.

Growth

Quality & Balance Sheet

Research

Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners

Outlook

Analysts & Price Target

Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.

Consensus Sell 1 = Strong buy … 5 = Strong sell
Analyst Ratings –
Price Target (average) –
Distance to price –

No price target is available for this stock.

AI classification

AI Rating

Neutral

Kanadischer Silberproduzent (Avino-Mine und Entwicklungsprojekt La Preciosa bei Durango, Mexiko), MJDS-Filer mit 40-F und 6-K. Ausgewertet wurden die Jahresberichte 40-F für 2024 und 2025 (jeweils mit Annual Information Form) sowie die Lageberichte (MD&A) für das dritte Quartal 2025, das Geschäftsjahr 2025 und die Quartale bis 31.03.2026 und 30.06.2026. In keinem dieser sechs Berichte steht ein Treffer zu „artificial intelligence“, „machine learning“ oder „AI“; KI ist weder Produkt noch Umsatzquelle, und kein Bericht beschreibt einen operativen KI-Einsatz oder eine konkrete KI-Bedrohung des Geschäftsmodells. Einzige Berührung: Die Ausblick-Meldung vom 19.02.2026 (6-K) nennt unter den Zielen für 2026 „Utilize AI (Artificial Intelligence) - For integration of all data for resource/reserve expansion and new exploration discoveries“ — eine Absichtserklärung ohne Beschreibung eines laufenden Einsatzes, in den späteren Lageberichten nicht wieder aufgegriffen und damit kein Beleg für „nutzt“. Werttreiber sind Silberpreis, Fördermenge und der Übergang von La Preciosa in den regulären Abbau. Negativ-Befund dokumentiert — nach dem Kriterienkatalog „neutral“.

View the full file — quotes, sources, reviewed filings

Filings Reviewed: 6-K — Lagebericht (MD&A) zum 30.06.2026, jüngster Periodenbericht, keine KI-Fundstelle 2026-08-12 · 6-K — Lagebericht (MD&A) zum 31.03.2026, keine KI-Fundstelle 2026-05-13 · 40-F für 2025 mit Annual Information Form, keine KI-Fundstelle 2026-03-27 · 6-K — Lagebericht (MD&A) für das Geschäftsjahr 2025, keine KI-Fundstelle 2026-03-10 · 6-K — Lagebericht (MD&A) zum 30.09.2025, keine KI-Fundstelle 2025-11-06 · 40-F für 2024 mit Annual Information Form, keine KI-Fundstelle 2025-03-12 · 6-K — Ausblick 2026 (Meldung vom 19.02.2026), einzige KI-Nennung als Absichtserklärung 2026-02-19

Rated on October 9, 2026 · How the Rating Is Built

The company

About the Company

Avino Silver & Gold Mines ist ein kanadischer Silberproduzent mit Sitz in Vancouver. Die Gesellschaft betreibt die Avino-Mine bei Durango in Mexiko (99,67 % über die Tochter Avino Mexico) und entwickelt das benachbarte Silbervorkommen La Preciosa, das sie 2022 von Coeur Mining übernommen hat. Verkauft wird ein Silber-Gold-Kupfer-Konzentrat an Metallhändler und Hütten. Heimatbörse ist die Toronto Stock Exchange (ASM), in den USA notiert die Aktie an der NYSE American (ASM); berichtet wird nach IFRS in US-Dollar mit Formular 40-F und 6-K an die SEC.

IPO Year
2005
ISIN
CA0539061030

Data as of: October 9, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

Was this page helpful to you?