Aris Mining (NYSE:ARMN) Reaches New 12-Month High – Time to Buy?

Aris Mining Co. (NYSE:ARMN) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.41 and last traded at $11.4050, with a volume of 640545 shares trading hands. The stock had previously closed at $10.96.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Zacks Research upgraded Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. National Bankshares restated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.00.

Aris Mining Trading Up 3.4%

The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -566.50 and a beta of -0.31. 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 company has a fifty day moving average of $9.87 and a two-hundred day moving average of $7.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARMN. MMCAP International Inc. SPC boosted its holdings in Aris Mining by 45.1% during the third quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after acquiring an additional 5,112,295 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Aris Mining in the second quarter worth about $32,173,000. Amundi lifted its position in shares of Aris Mining by 3,670.1% during the 2nd quarter. Amundi now owns 1,885,031 shares of the company’s stock worth $12,969,000 after purchasing an additional 1,835,031 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Aris Mining by 41,257.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,815,998 shares of the company’s stock valued at $12,204,000 after purchasing an additional 1,811,607 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Aris Mining in the 2nd quarter valued at approximately $11,203,000. Institutional investors own 35.81% of the company’s stock.

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.