Stock Traders Buy Large Volume of Call Options on Aris Mining (NYSE:ARMN)

Aris Mining Co. (NYSE:ARMN) was the target of some unusual options trading activity on Friday. Investors acquired 2,670 call options on the company. This is an increase of approximately 248% compared to the average daily volume of 768 call options.

Aris Mining Price Performance

Shares of NYSE ARMN traded down $0.66 during midday trading on Friday, reaching $15.57. The company’s stock had a trading volume of 735,898 shares, compared to its average volume of 1,318,944. Aris Mining has a one year low of $3.50 and a one year high of $16.99. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -779.95 and a beta of -0.51. The company has a 50 day moving average price of $13.17 and a 200 day moving average price of $9.96. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32.

Institutional Investors Weigh In On Aris Mining

A number of institutional investors and hedge funds have recently modified their holdings of ARMN. GWN Securities Inc. acquired a new position in shares of Aris Mining in the 2nd quarter valued at $76,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Aris Mining by 16.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock worth $83,000 after buying an additional 1,780 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Aris Mining in the third quarter worth about $93,000. Insigneo Advisory Services LLC acquired a new stake in shares of Aris Mining during the third quarter valued at approximately $98,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Aris Mining by 51.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 11,800 shares of the company’s stock valued at $116,000 after acquiring an additional 4,000 shares during the period. 35.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ARMN shares. Canaccord Genuity Group lifted their price objective on shares of Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Zacks Research lowered Aris Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. Finally, National Bankshares reiterated an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Aris Mining Company Profile

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.