Avino Silver & Gold Mines Ltd. ASM reported fourth-quarter 2022 adjusted earnings per share of 3 cents, beating the Zacks Consensus Estimate of 2 cents. The company reported earnings per share of 5 cents in the prior-year quarter.
Including one-time items, the company reported earnings of 1 cent per share in the fourth quarter compared with earnings per share of 3 cents in the year-ago quarter.
Avino Silver’s revenues increased 57% year over year to a record $14.6 million in the quarter under review compared with $9.3 million reported in the prior year. The top line beat the Zacks Consensus Estimate of $12.3 million.
Avino Silver reported consolidation production of 770,127 silver equivalent ounces in the fourth quarter of 2022. This comprised 309,856 ounces of silver, 2,426 ounces of gold and 1,540,851 pounds of copper.
Avino Silver Price, Consensus and EPS Surprise
Avino Silver price-consensus-eps-surprise-chart | Avino Silver Quote
The company recorded cash costs of $11.76 per silver equivalent payable ounce, indicating an increase of 30% from the year-ago quarter. Consolidated all-in sustaining costs (“AISC”) of $18.63 per silver payable equivalent ounce rose 8% from the prior-year quarter.
Avino Silver reported a mine-operating profit of $4.4 million in the quarter, unchanged from the prior-year quarter. EBITDA was $3.2 million compared with $4.8 million in the year-ago quarter.
Avino Silver ended the fourth quarter of 2022 with $11.2 million of cash in hand, down from $24.8 million at the end of 2021. Cash provided by operating activities during the year was $11.8 million.
Capital expenditure for the fourth quarter of 2022 was $2.7 million. In 2022, ASM spent $8.9 million on capital expenditure. The figure was within the previously disclosed guidance of $7-$9 million.
The company delivered adjusted earnings per share of 8 cents in 2022, a significant increase from 2021 earnings of 2 cents per share. The bottom line surpassed the Zacks Consensus Estimate of 4 cents per share. Including one-time items, the company reported earnings of 3 cents per share in 2022 against a loss per share of 2 cents a year ago.
Avino Silver’s revenues skyrocketed 294% year over year to a record $44.1 million in 2022. The top line figure beat the Zacks Consensus Estimate of $42 million.
Shares of the company have fallen 9.4% over the past year compared with the industry’s decline of 28.1%.
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Zacks Rank & Stocks to Consider
Avino Silver currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Olympic Steel ZEUS, Steel Dynamics STLD, and Yamana Gold AUY. ZEUS and STLD currently flaunt a Zacks Rank #1 (Strong Buy) and AUY carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Olympic Steel’s fiscal 2023 earnings per share is pegged at $3.50. Its earnings estimates have moved 61% north in the past 60 days. ZEUS has a trailing four-quarter earnings surprise of 26.2%, on average. Its shares have gained 41.2% in the past year.
The Zacks Consensus Estimate for Steel Dynamics’ earnings per share is pegged at $14.84 for 2023. Earnings estimates have been revised 37% upward in the past 60 days. STLD has a trailing four-quarter average surprise of 11.2%, on average. The company has gained 26.9% in a year.
The Zacks Consensus Estimate for Yamana Gold’s 2023 earnings per share is pegged at 27 cents. Earnings estimates have moved 3.8% north in the past 60 days. AUY’s shares have gained 7.4% in the past year.
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