Aris Mining (NYSE:ARIS) Stock Price Down 5.5% – Here’s What Happened
by Renee Jackson · The Cerbat GemAris Mining Co. (NYSE:ARIS – Get Free Report) shares traded down 5.5% during mid-day trading on Wednesday . The company traded as low as $20.56 and last traded at $20.4620. 298,514 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,984,772 shares. The stock had previously closed at $21.65.
Analyst Upgrades and Downgrades
ARIS has been the subject of a number of research analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a report on Friday, January 23rd. Zacks Research upgraded shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings raised shares of Aris Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.00.
Check Out Our Latest Analysis on Aris Mining
Aris Mining Trading Down 5.1%
The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 54.08 and a beta of -0.13. The company’s 50 day moving average is $18.91 and its 200 day moving average is $15.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.58 and a current ratio of 1.76.
Aris Mining (NYSE:ARIS – Get Free Report) last released its earnings results on Wednesday, March 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The company had revenue of $308.57 million for the quarter. Aris Mining had a net margin of 8.45% and a return on equity of 15.59%. On average, research analysts forecast that Aris Mining Co. will post 0.36 EPS for the current fiscal year.
Hedge Funds Weigh In On Aris Mining
A number of hedge funds have recently made changes to their positions in the business. MMCAP International Inc. SPC raised its stake in shares of Aris Mining by 45.1% in the 3rd quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after buying an additional 5,112,295 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Aris Mining by 28.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,418,929 shares of the company’s stock valued at $87,907,000 after purchasing an additional 1,211,708 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Aris Mining by 18.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock valued at $38,722,000 after purchasing an additional 602,941 shares during the last quarter. FIL Ltd acquired a new stake in Aris Mining in the 4th quarter valued at approximately $62,900,000. Finally, JPMorgan Chase & Co. lifted its stake in Aris Mining by 87.3% in the 4th quarter. JPMorgan Chase & Co. now owns 3,240,826 shares of the company’s stock valued at $52,599,000 after acquiring an additional 1,510,919 shares in the last quarter. Institutional investors and hedge funds own 39.71% of the company’s stock.
About Aris Mining
Aris Mining Corp, headquartered in Vancouver, British Columbia, is a mineral exploration and development company focused on advancing a diversified portfolio of precious metal and lithium assets. Listed on the New York Stock Exchange under the ticker ARMN, the company pursues a disciplined strategy of resource definition and project development to deliver value for its shareholders.
The firm’s principal assets include several high-grade gold projects across multiple continents and a strategic lithium property in the United States.