Avino Silver & Gold Mines Ltd. ( ASM Quick Quote ASM - Free Report) have gained around 3% as of Aug 12, 2020, despite reporting second-quarter 2020 adjusted loss per share of 1 cent on Aug 11. However, the figure matched the Zacks Consensus Estimate for bottom line. Notably, the company had reported breakeven earnings in the prior-year quarter. Lower production owing to the temporary mine shutdowns amid the COVID-19 pandemic impacted the company’s top-line performance in the quarter under review. Nevertheless, the company reported an improvement of 459% in adjusted EBITDA, leading to price gains. Including one-time items, the company reported a loss of 2 cents per share in the second quarter. Avino Silver’s revenues slumped 38% year over year to $4.8 million in the second quarter. The top line beat the Zacks Consensus Estimate of $3 million. This can primarily be attributed to lower production as a result of temporary suspension of operations.
The company recorded cash costs of $10.92 per silver equivalent payable ounce, up 0.3% from the year-ago quarter. Consolidated all-in sustaining costs (“AISC”) of $16.37 per silver payable equivalent ounce came in 5% higher than the prior-year quarter.
Avino Silver reported mine-operating profit of $0.8 million in the second quarter, a 166% improvement from the $0.3 million in the prior-year quarter. Adjusted EBITDA came in at $1.96 million compared with $0.35 million in the prior-year quarter. Financial Position
Avino Silver ended second-quarter 2020 with $10.4 million of cash in hand, up from the $3.4 million at the prior-year quarter end. Capital expenditures for the first half of 2020 were $0.7 million, down from $4.9 million in the prior-year comparable period, reflecting the company’s cautious stance amid the COVID-19 crisis. The company has lowered term facility and equipment debt by $2.2 million since Dec 31, 2019.
Shares of the company have gained 77.8% over the past year compared with the
industry’s rally of 46.6%. Zacks Rank & Stocks to Consider
Avino Silver currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are Coeur Mining Inc. ( CDE Quick Quote CDE - Free Report) , Commercial Metals Company ( CMC Quick Quote CMC - Free Report) and The Scotts MiracleGro Company ( SMG Quick Quote SMG - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Coeur Mining has an expected earnings growth rate of 138.7% for 2020. The company’s shares have surged 50% over the past year. Commercial Metals has a projected earnings growth rate of 15% for the current year. The company’s shares have gained 45% in a year’s time. Scotts MiracleGro has an estimated earnings growth rate of 44.5% for the ongoing year. Its shares have appreciated 48% in the past year. These Stocks Are Poised to Soar Past the Pandemic
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