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Avino Silver & Gold (TSE:ASM)
TSX:ASM
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Avino Silver & Gold
(TSX:ASM)
69Neutral
Positive Factors
Financial performance
The company recorded $14.6M in revenue, which yielded net income of $1.2M, or $0.01 per share, well above 3Q23 revenue of $12.3M and a net loss of $0.8M, or ($0.01) per share.
Production growth
Avino Silver and Gold announced a 13% year-over-year increase in silver equivalent ounces production and a 55% increase in copper production.
Negative Factors
Gold production decline
Gold production decreased by 22% year-over-year, and gold grades declined by 20% year-over-year.
Avino Silver & Gold (ASM) vs. S&P 500 (SPY)
Market Cap
$286.68M
Dividend YieldN/A
Average Volume (3M)186.28K
Price to Earnings (P/E)53.4
Beta (1Y)1.65
Revenue Growth19.21%
EPS Growth127.38%
CountryCA
Employees255
SectorBasic Materials
Sector Strength63
IndustryMining
Share Statistics
EPS (TTM)0.04
Shares Outstanding140,528,140
10 Day Avg. Volume194,341
30 Day Avg. Volume186,276
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)N/A
Price to Sales (P/S)3.26
Price to Cash Flow (P/CF)N/A
P/FCF Ratio1105.20
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$3.03Price Target Upside48.62% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Avino Silver & Gold Business Overview & Revenue Model
Company DescriptionAvino Silver & Gold Mines Ltd. is a Canadian mining company engaged in the exploration, extraction, and production of precious metals, primarily silver and gold. Based in Vancouver, British Columbia, Avino operates in the mining sector and focuses on its flagship Avino property located in Durango, Mexico. The company is dedicated to establishing itself as a significant producer of precious metals through sustainable and responsible mining practices.
How the Company Makes MoneyAvino Silver & Gold Mines Ltd. generates revenue through the extraction, processing, and sale of silver, gold, and by-products such as copper from its mining operations. The company's primary revenue stream comes from the sale of concentrates containing these precious metals to smelters and refiners. Avino's revenue model is largely dependent on the production volumes and market prices of silver and gold. Additionally, the company may engage in strategic partnerships or joint ventures to enhance its mining operations and expand its resource base, contributing to its earnings. Market factors such as commodity prices, operational efficiencies, and cost management play critical roles in determining its profitability.
Avino Silver & Gold Financial Statement Overview
Summary
Avino Silver & Gold shows strong revenue growth with a 23.7% increase, improved gross profit margin at 28.2%, and a net profit margin of 6.6%. The balance sheet is robust with a high equity ratio of 84.6% and low debt-to-equity ratio of 0.03, indicating low financial risk. Cash flow has improved with a positive free cash flow of $4.3 million, though there is room for better cash efficiency.Income Statement
Avino Silver & Gold's income statement indicates strong revenue growth, with a TTM (Trailing-Twelve-Months) increase of 23.7% compared to the previous year. The gross profit margin improved significantly to 28.2%, reflecting better cost management. The net profit margin also saw a positive improvement to 6.6%. However, the EBIT margin is modest at 6.4%, suggesting potential room for operational efficiency. Overall, the company shows good revenue growth and improving profitability trends.75
Positive
Balance Sheet
The balance sheet of Avino Silver & Gold is solid, with a strong equity ratio of 84.6%, highlighting a stable financial position with low leverage. The debt-to-equity ratio is low at 0.03, indicating minimal reliance on debt financing. Return on equity stands at 3.1%, which could be improved to better reflect shareholder value. Overall, the company maintains a strong balance sheet with low financial risk.70
Positive
Cash Flow
The cash flow statement shows a positive trajectory with free cash flow growth from negative to $4.3 million TTM, indicating improved cash generation. However, the operating cash flow to net income ratio is 2.3, suggesting strong cash conversion from operations, but the free cash flow to net income ratio is only 1.2, indicating room for improvement in cash efficiency.68
Positive
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 54.33M | 43.89M | 44.19M | 11.23M | 16.02M | 31.75M | Gross Profit |
| 15.31M | 7.82M | 15.06M | 3.55M | 190.00K | -270.00K | EBIT |
| 3.50M | 0.00 | 7.78M | -1.53M | -4.34M | -3.96M | EBITDA |
| 9.75M | 2.79M | 9.96M | 522.00K | -2.42M | -236.00K | Net Income Common Stockholders |
| 3.57M | 542.00K | 3.10M | -2.06M | -7.48M | -2.33M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 3.25M | 2.69M | 11.24M | 24.77M | 11.71M | 9.63M | Total Assets |
| 108.59M | 128.34M | 121.20M | 86.28M | 68.78M | 72.57M | Total Debt |
| 9.65M | 3.45M | 6.67M | 1.07M | 3.07M | 7.32M | Net Debt |
| 6.40M | 766.00K | -4.58M | -23.70M | -8.64M | -2.31M | Total Liabilities |
| 33.42M | 22.34M | 23.18M | 7.77M | 9.77M | 18.65M | Stockholders Equity |
| 75.17M | 106.00M | 98.02M | 78.51M | 59.01M | 53.92M |
| Cash Flow | Free Cash Flow | ||||
| 4.28M | -5.89M | 4.00M | -1.80M | -1.94M | 2.23M | Operating Cash Flow |
| 8.19M | 1.49M | 11.83M | 109.00K | 72.00K | 5.51M | Investing Cash Flow |
| -6.18M | -13.53M | -24.10M | -3.21M | -2.17M | -3.73M | Financing Cash Flow |
| 3.87M | 3.49M | -1.15M | 16.09M | 4.20M | 4.97M |
Avino Silver & Gold Technical Analysis
Positive
2.04
Price Trends
1.72
Positive
1.67
Positive
1.53
Positive
Market Momentum
0.04
Positive
59.26
Neutral
85.51
Negative
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 2.04 is above the 20-day moving average (MA) of 1.92, above the 50-day MA of 1.72, and above the 200-day MA of 1.53, indicating a bullish trend. The MACD of 0.04 indicates Positive momentum. The RSI at 59.26 is Neutral, neither overbought nor oversold. The STOCH value of 85.51 is Negative, 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
Overall Rating
UnderperformOutperform
Sector (46)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $1.22B | 10.41 | 11.68% | 0.71% | 31.23% | 110.49% | |
69 Neutral | $286.68M | 53.40 | 3.29% | ― | 19.21% | 127.38% | |
54 Neutral | C$1.60B | ― | -7.77% | ― | -4.65% | -304.16% | |
51 Neutral | C$2.27B | 22.31 | 14.03% | ― | ― | 134.17% | |
46 Neutral | $2.64B | -3.89 | -29.36% | 3.33% | 2.89% | -29.66% | |
44 Neutral | C$422.06M | ― | -87.37% | ― | 15.71% | -4.75% | |
42 Neutral | C$48.25M | ― | -16.38% | ― | 36.99% | -153.27% |
* Basic Materials Sector Average
Performance Comparison
TSE:ASM
Avino Silver & Gold
2.04
1.31
179.45%
TSE:IPT
IMPACT Silver
0.20
0.02
8.33%
TSE:MAG
MAG Silver
21.95
9.55
77.02%
TSE:USA
Americas Gold and Silver
0.71
0.40
132.79%
TSE:SVM
Silvercorp Metals
5.60
1.89
50.82%
TSE:EDR
Endeavour Silver
6.52
3.63
125.61%
Avino Silver & Gold Earnings Call Summary
Earnings Call Date: Mar 11, 2025 | % Change Since: 0.00% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong performance with significant production and financial improvements. There were successful operational adjustments and positive results from La Preciosa. However, the call also highlighted approval delays and previous operational challenges. The positive aspects were more prominent, but there are some external risks and timing uncertainties.Highlights
Increase in Production
Total equivalent production increased by 13% over the third quarter of last year, with silver production rising by 19%.
Financial Performance Improvement
Revenues reached $14.6 million with a quarterly record gross profit of $5.7 million and a 45% cash operating margin.
Strong Cash Flow
Operating cash flows before taxes were $6.7 million, and the company ended the quarter with $7.8 million in cash on hand.
Improved Cost Structure
Cash cost per ounce decreased to $14.94, and all-in sustaining cash cost per ounce came in at $22.06, showing improvement from previous quarters.
Progress at La Preciosa
The sampling program at La Preciosa yielded better-than-expected recoveries, with plans to move ahead with underground development.
Lowlights
Ore Crushing Challenges
Challenges in ore crushing were experienced in June and July, affecting production.
Delayed Underground Development at La Preciosa
Approval delays from the military for explosives storage have pushed the expected start of underground development at La Preciosa.
Elevated Tax Rate
The effective tax rate was higher due to the utilization of tax losses and profitable quarters, impacting net income.
Company Guidance
During the Avino Silver & Gold Mines Q3 2024 earnings call, the company reported a robust financial performance with a 13% year-over-year increase in total equivalent production. The silver equivalent production reached 671,000 ounces, while silver production rose by 19% to 282,000 ounces. Copper production was 1.8 million pounds, and gold production was just over 1,600 ounces, with mill throughput at 157,000 tonnes. Financially, the company generated $14.6 million in revenues and achieved a quarterly record of $5.7 million in gross profit. Operating cash flow before taxes was $6.7 million, representing a 45% margin. The company's net income was $1.2 million or $0.01 per share, with adjusted earnings at $5 million or $0.04 per share. The cash on hand at the end of the quarter was $7.8 million, with an improved working capital position of almost $16 million. The company maintained strong cost control with cash costs per ounce at $14.94 and all-in sustaining costs at $22.06 per ounce. Avino is on track to meet its 2024 production guidance of 2.5 million to 2.8 million ounces of silver equivalent and aims to increase production to between 8 million and 10 million ounces of silver equivalent by 2029 through its growth strategy.Avino Silver & Gold Corporate Events
Business Operations and StrategyFinancial Disclosures
Avino Silver & Gold Mines Reports Strong 2024 Production Growth
Positive
Jan 21, 2025
Avino Silver & Gold Mines Ltd. reported significant growth in its Q4 and full-year 2024 production results, with a 32% increase in silver equivalent production for Q4 and a 10% increase for the full year compared to previous periods. The improvements were driven by enhanced gold grades, increased mill throughput, and better copper and silver grades. The company also achieved notable health and safety performance improvements, reducing lost time incident frequency rates significantly.
Avino Silver & Gold Begins Development at La Preciosa
Jan 15, 2025
Avino Silver & Gold Mines Ltd. has commenced underground development at its La Preciosa property in Mexico after securing all necessary permits. This development marks a significant milestone for the company, as La Preciosa is one of Mexico’s largest undeveloped silver deposits with higher silver grades than currently mined at Avino. The project is expected to drive local economic growth and job creation while maintaining an environmentally sustainable approach. The initial phase of development is budgeted under $5 million and will be funded from Avino’s cash reserves, highlighting the company’s robust financial position.
Avino Silver & Gold Reports Strong Q3 2024 Results
Nov 12, 2024
Avino Silver & Gold Mines reported strong financial performance in Q3 2024, with a 19% increase in revenues driven by higher metal prices and increased production. The company achieved a significant boost in cash flow and operating margins, reinforcing their debt-free balance sheet. Avino remains focused on growth and delivering value to shareholders, capitalizing on an unhedged metal production strategy amidst rising market prices.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.