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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.
- 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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