With a forward P/E of 14.95x, Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) ranks among the most undervalued silver mining stocks to buy now. Meanwhile, analysts see 112.80% upside for the stock, while a record quarter and a pair of analyst upgrades have put Avino firmly in focus for silver investors.
On May 13, 2026, Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) reported Q1 2026 results that broke company records across the board.
Revenue came in at $39.4 million, up 109% from Q1 2025 and 29% from Q4 2025. Mine operating income reached $23.4 million, up 122% year-over-year, while net income hit $15.9 million, or $0.09 per diluted share. EBITDA surged 163% from Q1 2025 to $25.5 million, and adjusted earnings rose 150% to $24.3 million, or $0.14 per share. Operating cash before working capital movements came in at $18.7 million, up 154% year over year.
Silver accounted for 60% of revenues at an average realized price of $86.42 per ounce, with mill throughput improving 11% year over year through targeted upgrades and automation. La Preciosa contributed 49,830 silver ounces from development production, slightly ahead of Q4 2025.
President and CEO David Wolfin said Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) is now in its strongest financial position in company history, with a balance sheet he described as a foundation for Avino’s plan to become a Mexico-focused mid-tier primary silver producer. Separately, the TSX accepted Avino’s notice to repurchase up to 8,423,566 common shares, roughly 5% of shares outstanding, funded by free cash flow.
The results immediately drew analyst attention. On May 14, 2026, H.C. Wainwright’s Heiko Ihle raised the firm’s price target on Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) to $13 from $12.50, keeping a “Buy” rating, citing continued balance sheet improvement. The following day, Roth Capital lifted its target to $8 from $7.50, maintaining a “Neutral” rating, noting that Q1 results beat its expectations and that gold and silver prices had rebounded somewhat.
Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) works in mining and exploration activities. It focuses on silver reserves in the Durango region of North Central Mexico. It operates through the Silver, Gold, and Copper segments.
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