Avino Silver & Gold Mines Ltd (NYSE:ASM) shares are trading higher Monday afternoon after the company announced a new share repurchase program, giving investors a fresh capital-allocation catalyst to watch.
- Avino Silver & Gold Mines shares are powering higher. What’s driving ASM stock higher?
NCIB Approval Opens The Door To A 5% Share Buyback
The company said the Toronto Stock Exchange accepted its notice to launch a normal course issuer bid, or NCIB, allowing Avino to buy back up to 8,428,566 common shares, equal to about 5% of its outstanding shares as of March 31. The program is set to begin April 8 and run through April 7, 2027, unless completed earlier.
Management said the buyback is meant to provide flexibility if the stock does not fully reflect the company’s underlying value and long-term potential. CEO David Wolfin said Avino is in a strong financial position and expects current silver prices to help generate enough free cash flow in 2026 to support repurchases.
The company said purchases may be made on the TSX, NYSE American and other permitted systems at prevailing market prices, and all shares repurchased under the program will be canceled. Avino also put an automatic share purchase plan in place, allowing repurchases during blackout periods under preset rules.
Latest RSI Reading Shows Improving Technical Setup
ASM’s RSI stayed mostly in the neutral range over the past six months, with brief overbought spikes above 70 and one recent dip to around the oversold 30 level.
The latest reading appears to have rebounded into the upper-40s, suggesting momentum has recovered from near-oversold conditions but is not yet flashing overbought pressure.
ASM Shares Climb Monday Afternoon
ASM Price Action: Avino Silver & Gold Mines shares were up 4.44% at $6.82 at the time of publication on Monday, according to Benzinga Pro data.
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