Aris Mining (NYSE:ARMN) Sees Large Volume Increase

Shares of Aris Mining Co. (NYSE:ARMN) saw an uptick in trading volume on Thursday . 130,294 shares were traded during mid-day trading, a decline of 49% from the previous session’s volume of 257,863 shares.The stock last traded at $4.55 and had previously closed at $4.35.

Aris Mining Stock Performance

The stock has a market cap of $856.13 million and a price-to-earnings ratio of 101.00. The company has a quick ratio of 1.52, a current ratio of 1.88 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $4.34 and a 200 day simple moving average of $3.99.

Aris Mining (NYSE:ARMN) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Aris Mining had a return on equity of 6.00% and a net margin of 2.46%. The company had revenue of $117.19 million for the quarter. As a group, equities research analysts forecast that Aris Mining Co. will post 0.59 EPS for the current year.

Institutional Trading of Aris Mining

A number of hedge funds have recently made changes to their positions in ARMN. Acadian Asset Management LLC raised its holdings in Aris Mining by 127.9% in the 1st quarter. Acadian Asset Management LLC now owns 1,338,317 shares of the company’s stock valued at $4,790,000 after buying an additional 751,046 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Aris Mining during the first quarter valued at $79,000. Van ECK Associates Corp lifted its holdings in shares of Aris Mining by 6.8% during the second quarter. Van ECK Associates Corp now owns 6,509,737 shares of the company’s stock worth $24,604,000 after purchasing an additional 414,651 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Aris Mining in the fourth quarter worth $380,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Aris Mining in the fourth quarter valued at $131,000. 35.81% of the stock is owned by institutional investors and hedge funds.

Aris Mining Company Profile

Aris Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana. It also explores for silver and copper deposits. The company was formerly known as GCM Mining Corp. and changed its name to Aris Mining Corporation in September 2022.