Friday, March 1, 2019

Avino Silver & Gold Mines Ltd. (ASM)

ASM Modestly outperforms in 2018; increasing 2019 estimates.

Avino Silver &
Gold Mines Ltd. engages in the acquisition, exploration, development,
production, and sale of mineral properties in Canada and Mexico. It primarily
explores for gold, silver, copper, zinc, and lead deposits.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.  

• ASM reports fourth quarter and full year results.  Avino reported fourth quarter net income of $981
  thousand, or $0.02 per share, and full year net income of $1.6 million, or
  $0.03 per share.  Fourth quarter and full year EBITDA amounted to $1.7
  million and $6.1 million, respectively.  We had expected fourth quarter
  and full year EPS of $0.00 and $0.02, respectively.  The variance to our
  estimate was due, in part, to lower than expected costs, including general and
  administrative expense.  Full year revenues of $34.1 million were roughly
  in line with our $34.2 million estimate.
• Updating estimates.  We are increasing our 2019 EPS estimate to $0.07 from $0.05
  and initiating a 2020 estimate of $0.10 per share.  We forecast 2019 and
  2020 EBITDA of $11.8 million and $14.5 mil…
  
  
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