ASM Stock Forecast & Price Target

Avino Silver & Gold Mines is supported by a strong fundamental setup driven by La Preciosa’s ramp-up, with 6,591 meters of a planned 15,000-meter 2026 drilling program completed by 2Q26 and Level 3 at Abundancia and Gloria nearly finished, positioning the mine to shift from lower-grade development ore to long-hole mining and stronger mill feed grades. Financially, the company delivered 1Q26 revenue of $39.4M and net income of $15.9M, then followed with 2Q26 revenue of $26.8M and net income of $10.9M, while EBITDA rose 69% YoY to $12.6M and mine operating income increased 27% YoY to $13.0M. Its outlook is further reinforced by elevated realized metal prices, improving throughput, $144.8M in cash, no debt, and an approved repurchase program for up to 8.4M shares, all of which support growth, flexibility, and per-share value creation.

Avino Silver & Gold Mines is facing a weaker fundamental backdrop after its Q2 2026 production results fell well below expectations, with silver output of 267,305 ounces versus 346,000 estimated and copper output of 0.7 million pounds versus 1.7 million, reflecting lower grades and recoveries at the Avino Mine. While gold production of 2,178 ounces modestly exceeded expectations, that upside was not enough to offset the operational miss, and the company remains exposed to significant execution risk as well as delays tied to its paste backfill plant. Its valuation is also pressured by retreating gold and silver prices, which now sit closer to forecasts, reducing the benefit of elevated commodity assumptions and leaving the stock vulnerable to further downside if metals or operating performance weaken.