We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avino Silver (ASM) Reports Break-Even Earnings, Lower Sales in Q2
Read MoreHide Full Article
Avino Silver & Gold Mines Ltd. (ASM - Free Report) reported break-even earnings per share in second-quarter 2023, missing the Zacks Consensus Estimate of earnings of 1 cent per share. The company had reported earnings per share of 2 cents in the prior-year quarter.
Including one-time items, it reported earnings per share of 1 cent in the second quarter, compared with earnings per share of 2 cents in the year-ago quarter.
Avino Silver’s revenues dipped 2% year over year to $9.2 million in the quarter under review, owing to lower concentrate shipments. The top line missed the Zacks Consensus Estimate of $10 million.
Avino Silver reported consolidation production of 587,317 silver equivalent ounces in the second quarter of 2023, which was down 10% year over year. This comprised 232,417 ounces of silver, 1,520 ounces of gold and 1,445,552 pounds of copper. Silver production improved 3%, gold output rose 13% while copper production declined 12%.
Operational Update
The company recorded cash costs of $16.33 per silver equivalent payable ounce, indicating an increase of 95% from the year-ago quarter. Consolidated all-in sustaining costs of $23.06 per silver payable equivalent ounce rose 45% from the prior-year quarter.
Avino Silver reported a mine-operating profit of $1.04 million in the quarter, down 73% from the $3.9 million reported in the prior-year quarter. EBITDA was $0.4 million, plunging 90% from $4.1 million in the year-ago quarter.
Financial Position
Avino Silver ended the second quarter of 2023 with $1.2 million of cash in hand, down from $2.7 million at the end of the first quarter of 2023. Cash provided by operating activities during the quarter was $1.2 million. Capital expenditure for the second quarter of 2023 was $1.8 million.
Price Performance
Shares of the company have declined 0.3% over the past year compared with the industry’s 2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Avino Silver currently has a Zacks Rank #3 (Hold).
Carpenter Technology has an average trailing four-quarter earnings surprise of 10%. The Zacks Consensus Estimate for CRS’s fiscal 2024 earnings is pegged at $3.23 per share. The consensus estimate for fiscal 2024 earnings has moved 12% north in the past 60 days. Its shares have gained 54% in the last year.
The Zacks Consensus Estimate for PPG Industries’ fiscal 2023 earnings per share is pegged at $7.47, indicating growth of 23.5% from the prior-year actual. Earnings estimates have moved 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 7.3%. PPG’s shares have gained 0.2% in the past year.
Bunge has an average trailing four-quarter earnings surprise of 20.4%. The Zacks Consensus Estimate for BG’s 2023 earnings is pegged at $12.13 per share. The consensus estimate for 2023 earnings has moved 4% north over the past 60 days. BG’s have shares gained 12% in the last year.
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Avino Silver (ASM) Reports Break-Even Earnings, Lower Sales in Q2
Avino Silver & Gold Mines Ltd. (ASM - Free Report) reported break-even earnings per share in second-quarter 2023, missing the Zacks Consensus Estimate of earnings of 1 cent per share. The company had reported earnings per share of 2 cents in the prior-year quarter.
Including one-time items, it reported earnings per share of 1 cent in the second quarter, compared with earnings per share of 2 cents in the year-ago quarter.
Avino Silver’s revenues dipped 2% year over year to $9.2 million in the quarter under review, owing to lower concentrate shipments. The top line missed the Zacks Consensus Estimate of $10 million.
Avino Silver Price, Consensus and EPS Surprise
Avino Silver price-consensus-eps-surprise-chart | Avino Silver Quote
Avino Silver reported consolidation production of 587,317 silver equivalent ounces in the second quarter of 2023, which was down 10% year over year. This comprised 232,417 ounces of silver, 1,520 ounces of gold and 1,445,552 pounds of copper. Silver production improved 3%, gold output rose 13% while copper production declined 12%.
Operational Update
The company recorded cash costs of $16.33 per silver equivalent payable ounce, indicating an increase of 95% from the year-ago quarter. Consolidated all-in sustaining costs of $23.06 per silver payable equivalent ounce rose 45% from the prior-year quarter.
Avino Silver reported a mine-operating profit of $1.04 million in the quarter, down 73% from the $3.9 million reported in the prior-year quarter. EBITDA was $0.4 million, plunging 90% from $4.1 million in the year-ago quarter.
Financial Position
Avino Silver ended the second quarter of 2023 with $1.2 million of cash in hand, down from $2.7 million at the end of the first quarter of 2023. Cash provided by operating activities during the quarter was $1.2 million. Capital expenditure for the second quarter of 2023 was $1.8 million.
Price Performance
Shares of the company have declined 0.3% over the past year compared with the industry’s 2% fall.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Avino Silver currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Carpenter Technology Corporation (CRS - Free Report) , PPG Industries, Inc. (PPG - Free Report) and Bunge Limited (BG - Free Report) . CRS and PPG sport a Zacks Rank #1 (Strong Buy) at present, and BG has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology has an average trailing four-quarter earnings surprise of 10%. The Zacks Consensus Estimate for CRS’s fiscal 2024 earnings is pegged at $3.23 per share. The consensus estimate for fiscal 2024 earnings has moved 12% north in the past 60 days. Its shares have gained 54% in the last year.
The Zacks Consensus Estimate for PPG Industries’ fiscal 2023 earnings per share is pegged at $7.47, indicating growth of 23.5% from the prior-year actual. Earnings estimates have moved 3% north in the past 60 days. It has an average trailing four-quarter earnings surprise of 7.3%. PPG’s shares have gained 0.2% in the past year.
Bunge has an average trailing four-quarter earnings surprise of 20.4%. The Zacks Consensus Estimate for BG’s 2023 earnings is pegged at $12.13 per share. The consensus estimate for 2023 earnings has moved 4% north over the past 60 days. BG’s have shares gained 12% in the last year.