Aris Mining (NYSE:ARMN) Sets New 1-Year High – What’s Next?

Aris Mining Co. (NYSE:ARMN) shares reached a new 52-week high during trading on Monday . The company traded as high as $10.08 and last traded at $9.98, with a volume of 782395 shares trading hands. The stock had previously closed at $9.65.

Analysts Set New Price Targets

ARMN has been the topic of a number of analyst reports. Zacks Research cut Aris Mining from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, August 21st. Canaccord Genuity Group upped their target price on Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. National Bankshares reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Monday, September 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Aris Mining currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Aris Mining Price Performance

The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -492.25 and a beta of -0.34. The stock has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $6.69.

Institutional Investors Weigh In On Aris Mining

A number of institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC grew its position in shares of Aris Mining by 16.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock valued at $83,000 after acquiring an additional 1,780 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Aris Mining by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after purchasing an additional 2,135 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Aris Mining by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after purchasing an additional 2,617 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Aris Mining by 4.2% during the 4th quarter. Mackenzie Financial Corp now owns 70,009 shares of the company’s stock valued at $245,000 after buying an additional 2,790 shares during the period. Finally, TD Asset Management Inc raised its position in Aris Mining by 3.0% in the first quarter. TD Asset Management Inc now owns 163,437 shares of the company’s stock valued at $755,000 after purchasing an additional 4,717 shares during the period. 35.81% of the stock is currently 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.