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ASM Q2 Earnings Meet Estimates, Shares Dip 5% on Revenue Miss
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Key Takeaways
Avino Silver's Q2 revenues rose 23% but missed estimates as payable ounces sold fell 43%.
ASM's cash costs rose 89%, while EBITDA jumped 69% to $12.6 million in Q2.
Avino Silver targets 2.4-2.7 million silver-equivalent ounces in 2026 and above 3 million in 2027.
Shares of Avino Silver & Gold Mines Ltd. (ASM - Free Report) have dipped 5% since reporting second-quarter 2026 results on Aug.12 as revenues lag estimates and production falls year over year despite a higher average realized silver price.
The company reported adjusted earnings of 6 cents per share for the second quarter of 2026, unchanged year over year and in line with the Zacks Consensus Estimate.
Including one-time items, the company registered earnings per share of 6 cents compared with earnings of 2 cents in the year-ago quarter.
Revenues rose 23% year over year to $26.8 million but missed the consensus estimate of $31 million by 14.4%. The top-line shortfall came as silver-equivalent payable ounces sold fell 43% to 387,142 ounces, even as the average realized silver price more than doubled to $68.90 per ounce.
Avino Silver's Q2 Costs Rise, EBITDA Jumps
The company recorded cash costs of $28.62 per silver-equivalent payable ounce, an 89% rise from $15.11 in the year-ago quarter. Consolidated all-in sustaining costs were $38.75 per silver-equivalent payable ounce compared with $20.93 in the second quarter of 2025.
Avino Silver reported mine-operating income of $13 million, up 27% from $10.2 million in the year-ago quarter. EBITDA was $12.6 million, which was 69% higher than $7.4 million in the prior-year quarter.
ASM’s Q2 Production Update
The company’s silver-equivalent production was 534,945 ounces in the second quarter of 2026, which marked a 17% decrease from the second quarter of 2025. Silver feed grade rose 22% to 67 grams per ton, while gold feed grade increased 30% to 0.51 grams per ton. Silver recovery fell to 69% from 85%, and copper recovery declined to 72% from 83%.
Coming to the second quarter’s metal-wise detailed figures, silver production fell 6% to 267,305 ounces and copper production dropped 50% to 729,929 pounds. Gold output, however, increased 23% to 2,178 ounces.
La Preciosa development production increased 59% from the first quarter, contributing 100,658 silver-equivalent ounces. This included 84,806 silver ounces and 182 gold ounces.
Avino Silver’s Financial Position
The company ended the second quarter with $144 million in cash in hand, higher than $101.7 million at the end of 2025. Cash provided by operating activities was $13.3 million compared with $8.4 million in the year-ago quarter. The company remained debt-free, excluding operating equipment leases.
ASM’s Outlook
The company's 2026 production guidance is 2.4 million to 2.7 million silver-equivalent ounces, while it targets more than 3 million ounces in 2027.
La Preciosa has a 2026 production goal of 500 tons per day. Two drills were operating there, with 6,591 meters completed by the end of the second quarter toward a 15,000-meter exploration program. Drilling has shifted from infill work to exploration and step-out holes at high-priority targets. Avino Silver also budgeted 15,000 meters of exploration at the Avino Mine for 2026.
Avino Silver Stock’s Price Performance
Shares of the company have skyrocketed 87.5% over the past year compared with the industry’s 77.5% surge.
Endeavour Silver Corporation (EXK - Free Report) reported adjusted earnings of 15 cents per share for the second quarter of 2026 against an adjusted loss of 3 cents incurred in the prior-year quarter. The bottom line met the Zacks Consensus Estimate.
Endeavour Silver’s revenues skyrocketed 149.4% to $212 million from $85 million in the second quarter of 2025. The top line beat the Zacks Consensus Estimate of $201 million.
First Majestic Silver Corp (AG - Free Report) posted earnings per share of 21 cents for second-quarter 2026, which missed the Zacks Consensus Estimate of 25 cents. AG posted earnings of 4 cents per share in the year-ago quarter.
First Majestic Silver’s revenues rose 57.2% year over year to $415 million in the quarter under review.
Buenaventura Mining Company (BVN - Free Report) reported second-quarter 2026 adjusted earnings per share of 94 cents, missing the Zacks Consensus Estimate of 98 cents. BVN posted earnings of 40 cents per share in the year-ago quarter.
Buenaventura Mining’s revenues jumped 43.4% year over year to $529 million in the quarter under review. The top line missed the Zacks Consensus Estimate of $596 million.
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ASM Q2 Earnings Meet Estimates, Shares Dip 5% on Revenue Miss
Key Takeaways
Shares of Avino Silver & Gold Mines Ltd. (ASM - Free Report) have dipped 5% since reporting second-quarter 2026 results on Aug.12 as revenues lag estimates and production falls year over year despite a higher average realized silver price.
The company reported adjusted earnings of 6 cents per share for the second quarter of 2026, unchanged year over year and in line with the Zacks Consensus Estimate.
Including one-time items, the company registered earnings per share of 6 cents compared with earnings of 2 cents in the year-ago quarter.
Avino Silver Price, Consensus and EPS Surprise
Avino Silver price-consensus-eps-surprise-chart | Avino Silver Quote
Revenues rose 23% year over year to $26.8 million but missed the consensus estimate of $31 million by 14.4%. The top-line shortfall came as silver-equivalent payable ounces sold fell 43% to 387,142 ounces, even as the average realized silver price more than doubled to $68.90 per ounce.
Avino Silver's Q2 Costs Rise, EBITDA Jumps
The company recorded cash costs of $28.62 per silver-equivalent payable ounce, an 89% rise from $15.11 in the year-ago quarter. Consolidated all-in sustaining costs were $38.75 per silver-equivalent payable ounce compared with $20.93 in the second quarter of 2025.
Avino Silver reported mine-operating income of $13 million, up 27% from $10.2 million in the year-ago quarter. EBITDA was $12.6 million, which was 69% higher than $7.4 million in the prior-year quarter.
ASM’s Q2 Production Update
The company’s silver-equivalent production was 534,945 ounces in the second quarter of 2026, which marked a 17% decrease from the second quarter of 2025. Silver feed grade rose 22% to 67 grams per ton, while gold feed grade increased 30% to 0.51 grams per ton. Silver recovery fell to 69% from 85%, and copper recovery declined to 72% from 83%.
Coming to the second quarter’s metal-wise detailed figures, silver production fell 6% to 267,305 ounces and copper production dropped 50% to 729,929 pounds. Gold output, however, increased 23% to 2,178 ounces.
La Preciosa development production increased 59% from the first quarter, contributing 100,658 silver-equivalent ounces. This included 84,806 silver ounces and 182 gold ounces.
Avino Silver’s Financial Position
The company ended the second quarter with $144 million in cash in hand, higher than $101.7 million at the end of 2025. Cash provided by operating activities was $13.3 million compared with $8.4 million in the year-ago quarter. The company remained debt-free, excluding operating equipment leases.
ASM’s Outlook
The company's 2026 production guidance is 2.4 million to 2.7 million silver-equivalent ounces, while it targets more than 3 million ounces in 2027.
La Preciosa has a 2026 production goal of 500 tons per day. Two drills were operating there, with 6,591 meters completed by the end of the second quarter toward a 15,000-meter exploration program. Drilling has shifted from infill work to exploration and step-out holes at high-priority targets. Avino Silver also budgeted 15,000 meters of exploration at the Avino Mine for 2026.
Avino Silver Stock’s Price Performance
Shares of the company have skyrocketed 87.5% over the past year compared with the industry’s 77.5% surge.
ASM’s Zacks Rank
The company currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
How Did Avino Silver’s Peers Fare in Q2?
Endeavour Silver Corporation (EXK - Free Report) reported adjusted earnings of 15 cents per share for the second quarter of 2026 against an adjusted loss of 3 cents incurred in the prior-year quarter. The bottom line met the Zacks Consensus Estimate.
Endeavour Silver’s revenues skyrocketed 149.4% to $212 million from $85 million in the second quarter of 2025. The top line beat the Zacks Consensus Estimate of $201 million.
First Majestic Silver Corp (AG - Free Report) posted earnings per share of 21 cents for second-quarter 2026, which missed the Zacks Consensus Estimate of 25 cents. AG posted earnings of 4 cents per share in the year-ago quarter.
First Majestic Silver’s revenues rose 57.2% year over year to $415 million in the quarter under review.
Buenaventura Mining Company (BVN - Free Report) reported second-quarter 2026 adjusted earnings per share of 94 cents, missing the Zacks Consensus Estimate of 98 cents. BVN posted earnings of 40 cents per share in the year-ago quarter.
Buenaventura Mining’s revenues jumped 43.4% year over year to $529 million in the quarter under review. The top line missed the Zacks Consensus Estimate of $596 million.