Avino Silver & Gold Mines reports 59% revenue increase for Q3
The silver producer generated US$33.4 million in revenues for the third quarter of 2026
Avino Silver & Gold Mines Ltd. (ASM) reported revenues of US$33.4 million for the third quarter of 2026, a 59% increase compared to the US$21 million reported in the third quarter of 2025. Silver production accounted for 55% of those revenues, with an average realized price of US$63.33 per ounce.
Net income for the period was US$6.1 million, or US$0.03 a diluted share. The company said earnings were impacted by unrealized losses on derivatives and non-cash movements in deferred income taxes. Adjusted earnings rose 23% from the prior-year period to US$14.3 million, while adjusted earnings per share rose 14% to US$0.08.
Mine operating income rose 50% from the third quarter of 2025 to US$14.8 million. EBITDA for the quarter was US$12.8 million, which was a 12% increase over the same period last year. Cash provided by operating activities rose 52% to US$12.7 million.
Production results for the quarter showed mixed trajectories across metals. Silver ounces produced rose 15% to 303,189 ounces, while gold production fell 10% to 1,732 ounces. Copper production decreased 8% to 1,202,821 pounds. Silver equivalent ounces produced rose 2% to 582,836.
Costs increased across several metrics during the quarter. All-in sustaining costs (AISC) per silver equivalent payable ounce rose 44% to US$34.71 from US$24.06 in the third quarter of 2025. Cash cost per tonne processed rose 34% to US$71.40.
Development continued at La Preciosa, where the company completed over 3,000 metres of underground development this year. David Wolfin, President and CEO, said the company is processing lower grade development ore at La Preciosa while moving the project toward a larger operation. He stated the work is intended to lay the foundation for meaningful increases to future silver production.
Avino revised its 2026 production guidance to between 2.2 million and 2.5 million silver equivalent ounces, down from a previous range of 2.4 million to 2.7 million. The company also updated its cost guidance, forecasting AISC per silver equivalent payable ounce sold between US$30 and US$32, compared to a previous range of US$25 to US$27.
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