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Avino Silver & Gold Mines Ltd. (NYSE:ASM) stock has reached a new 52-week high, touching $3.04, as investors rally behind the precious metals miner. This peak represents a significant milestone for the company, which has seen an impressive 190.18% surge in its stock price over the past year. The robust performance of ASM stock reflects growing investor confidence in the company’s operations and the broader commodities market, which has been buoyed by increased demand for silver and gold. The 52-week high serves as a testament to Avino Silver & Gold Mines Ltd.’s strong market position and its potential for continued growth in the coming months.
In other recent news, Avino Silver & Gold Mines reported record revenues of $24.4 million for the fourth quarter of 2024, significantly surpassing the forecast of $16.7 million. The company also exceeded earnings expectations with an earnings per share (EPS) of $0.03, compared to the forecasted $0.02. This strong financial performance was attributed to increased production and favorable market conditions in the mining sector. Additionally, Avino Silver & Gold’s annual revenue reached CAD $66.2 million, marking a 51% increase from the previous year. The company reported a net income of $8.1 million, translating to $0.06 per share, and maintained a strong cash position of $27.3 million, up 916% from 2023. H.C. Wainwright responded to these results by increasing the price target for Avino Silver & Gold to $2.80, up from $2.20, while maintaining a Buy rating on the stock. The firm expressed confidence in Avino’s ability to sustain its financial and operational momentum, supported by robust margins and the prevailing metal price environment. Looking ahead, Avino plans to continue advancing its La Preciosa project, with expectations for production contributions in late 2024 or early 2025.
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