A little-known US stock called Avino Silver & Gold Mines (ASM) has surged a staggering 360% year-to-date. It reached a 52-week high of $4.48 on Friday and is attracting heavy bullish sentiments. The rally is yet to come to an end, as financial analysts predict that ASM still has steam with an upside momentum. Taking an entry position even now could be beneficial as the stock has outperformed all market expectations.
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New York-based investment bank HC Wainwright has given the US stock a ‘buy’ rating with a target of $4.80. That’s a surge of another 7.5% from its current price of $4.47. An investment of $1,000 could turn into $1,075 if the forecast turns out to be accurate. If the bullish momentum continues, the stock has a chance of soaring higher due to high buying demand. Investors are jumping in on the stock to make merry when the sun is shining.
US Stock Avino Silver & Gold Mines (ASM) Turns Bullish
Avino Silver & Gold Mines (ASM) Ltd is a mining company that extracts silver, gold, and copper. The firm focuses on exploring new deposits and producing precious metals for industrial purposes. It also has plans to grow its annual production and supply the precious metals to its industrial clients. Their clients include firms that manufacture solar panels, water purification, a part of aerospace, coinage and investment, medicine, energy, and more. The US stock benefits from the growing demand for silver, gold, and copper, making ASM an attractive equity.
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“Silver is one of the world’s most important metals. Growing applications in industry, technology, medicine, and other sectors, along with growing investment demand, support silver’s long-term attractiveness,” wrote Avino Silver & Gold Mines, to US stock holders and clients in a press note. Their upcoming project involves delivering 700,000 to 750,000 tonnes of silver ounces via the Oxide Tailings Project.