Monitor Q1 financial results on May 13 for confirmation of revenue impact from lower production volumes. The disconnect between declining output and management's positive guidance suggests potential margin pressure, making the May 14 earnings call critical for investor sentiment.
Price Chart
Executive Summary
Avino Silver & Gold Mines reported Q1 2026 production results showing a 10% year-over-year decline in silver equivalent output to 568,112 oz, driven by lower grades and planned mining sequencing, though mill throughput rose 11%. The company highlighted progress at La Preciosa and expects stronger H2 production. The stock may react negatively to the production decline despite management's optimistic tone.
Key Facts
- Q1 2026 silver equivalent production was 568,112 oz, down 10% YoY from 631,249 oz
- Silver production fell 1% YoY to 263,057 oz, gold dropped 17% to 1,851 oz, copper declined 16% to 1.34M lbs
- Mill throughput increased 11% YoY to 185,497 dry tonnes, exceeding expectations
- Feed grades declined: silver -4% to 56 g/t, gold -24% to 0.42 g/t, copper -16% to 0.42%
- La Preciosa contributed 49,830 silver oz, slightly above Q4 2025, with development ore below plan early in quarter
- Company expects production weighted to second half of 2026 and remains on track with annual targets
- Inaugural mineral reserves announced: 27M tonnes containing 95M oz silver, 356K oz gold, 85M lbs copper
Financial Impact
Production decline of 10% YoY in silver equivalent ounces, with silver, gold, and copper all down significantly. However, 11% higher mill throughput suggests operational improvements. Elevated silver prices expected to boost revenues despite lower volumes.
Risk Factors
- Continued decline in ore grades could pressure margins despite higher throughput
- Delays in La Preciosa ramp-up could jeopardize second-half production targets
- Reliance on elevated silver prices to offset volume declines creates commodity price risk
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001477932-26-002469 |
| Document: avino_6k.htm | 0001477932-26-002469 |
| Document: 0001477932-26-002469-index-headers.html | 0001477932-26-002469 |
| Document: 0001477932-26-002469-index.html | 0001477932-26-002469 |
| Document: 0001477932-26-002469.txt | 0001477932-26-002469 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 6-K | $4.69 | awaiting T+1 | — | $4.60 (−1.92%) |
Oct 15, 2026 11d ago | 6-K | $5.19 $5.33 | ▲ +2.70% | ▲ +3.80% | $4.60 (−11.37%) |
Sep 9, 2026 6w ago | 6-K | $7.36 $7.12 | ▼ −3.26% | ▼ −2.66% | $4.60 (−37.50%) |
Aug 12, 2026 10w ago | 6-K | $7.14 $6.91 | ▼ −3.22% | ▼ −3.92% | $4.60 (−35.57%) |
Aug 12, 2026 10w ago | 6-K | $7.14 $6.91 | ▼ −3.22% | ▼ −3.92% | $4.60 (−35.57%) |
Jul 22, 2026 13w ago | 6-K | $6.26 $5.69 | ▲ +9.11% | ▲ +7.87% | $4.60 (+26.52%) |
Jun 11, 2026 19w ago | Institutional Cluster | $5.98 $6.39 | ▲ +6.86% | ▲ +6.32% | $4.60 (−23.08%) |
Jun 8, 2026 20w ago | 6-K | $5.98 $5.77 | ▼ −3.51% | ▼ −3.22% | $4.60 (−23.08%) |
Jun 1, 2026 21w ago | 6-K | $7.29 $7.42 | ▲ +1.78% | ▲ +1.64% | $4.60 (−36.90%) |
May 27, 2026 21w ago | 6-K | $7.16 $7.32 | ▲ +2.23% | ▲ +1.99% | $4.60 (−35.75%) |
US Market Status
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