Avino Silver Net Income Rises 281% in Second Quarter
The Mexico-focused silver producer reported net income of $10.9 million for the second quarter of 2026
Avino Silver & Gold Mines Ltd. (ASM) reported second quarter 2026 revenues of $26.8 million, a 23% increase from the second quarter of 2025. The silver producer in Mexico saw net income rise 281% to $10.9 million, or 0.06 a share, compared to the same period last year.
Silver production drove a significant portion of the company's financial results, accounting for 54% of revenues. The company achieved an average realized silver price of $68.90 per ounce, which represents a 104% increase over the $33.85 per ounce realized in the second quarter of 2025.
Despite the revenue growth, the company experienced a decline in several production metrics. Silver ounces produced fell 6% to 267,305, and silver equivalent ounces produced dropped 17% to 534,945. Copper pounds produced fell 50% to 729,929. These declines contributed to a 43% decrease in silver equivalent payable ounces sold, which totaled 387,142.
Operating costs also trended upward. The cash cost per silver equivalent payable ounce rose 89% to $28.62, while the all-in sustaining cost per silver equivalent payable ounce increased 85% to $38.75. Additionally, the all-in sustaining cost per tonne processed rose 30% to $96.01.
Cash flow remained a strong point for the company. Cash provided by operating activities rose 59% to $13.3 million. Mine operating cash flow before taxes increased 28% to $14.4 million. As of June 30, 2026, the company held $144.2 million in cash, a 42% increase from the $101.7 million reported on December 31, 2025.
At the La Preciosa project, development production increased 59% from the first quarter of 2026, contributing 100,658 silver equivalent ounces. The company said this increase was primarily due to Mill Circuit 2 becoming available.
Avino completed 6,591 meters of drilling at La Preciosa by the end of the second quarter as part of a planned 15,000 meters of exploration for 2026. The company stated that drilling has shifted from infill holes to exploration and step-out holes at high-priority targets.