Aris Mining (NYSE:ARIS) Stock Rating Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Aris Mining from “hold” to “strong sell,” although the broader analyst consensus remains “Moderate Buy,” with three buy ratings and one sell rating.
• Aris Mining shares opened at $15.86, below their 50-day and 200-day moving averages, and have traded between $9.55 and $23.29 over the past year.
• The company’s latest quarterly results exceeded expectations, reporting $0.47 in EPS versus the $0.39 consensus estimate on $330.23 million in revenue; institutional investors own nearly 40% of its stock.

Aris Mining (NYSE:ARIS - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Wednesday, Zacks reports.

Other equities analysts have also issued reports about the company. Wall Street Zen lowered Aris Mining from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Weiss Ratings raised Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy".

Aris Mining Stock Performance

NYSE:ARIS opened at $15.86 on Wednesday. The company has a current ratio of 1.91, a quick ratio of 1.68 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $3.27 billion, a P/E ratio of 9.50 and a beta of 0.04. The firm has a 50 day moving average of $18.36 and a 200-day moving average of $17.83. Aris Mining has a 1 year low of $9.55 and a 1 year high of $23.29.

Aris Mining (NYSE:ARIS - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. The business had revenue of $330.23 million during the quarter.

Institutional Trading of Aris Mining

Several institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC boosted its stake in Aris Mining by 15.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 11,500 shares of the company's stock valued at $171,000 after purchasing an additional 1,500 shares during the last quarter. RMG Wealth Management LLC bought a new stake in shares of Aris Mining during the 1st quarter worth $30,000. TD Waterhouse Canada Inc. grew its position in shares of Aris Mining by 41.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company's stock valued at $93,000 after acquiring an additional 1,876 shares during the period. Farther Finance Advisors LLC increased its position in Aris Mining by 12.0% in the third quarter. Farther Finance Advisors LLC now owns 17,642 shares of the company's stock worth $307,000 after buying an additional 1,888 shares during the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in Aris Mining in the 1st quarter valued at about $45,000. Institutional investors own 39.71% of the company's stock.

Aris Mining Company Profile

Aris Mining Corporation is a gold mining company focused on the exploration, development and operation of mineral properties in Latin America. The company's primary product is gold, with silver produced as a byproduct at certain operations.

Aris Mining's principal assets are in Colombia, including the Segovia Operations in Antioquia and the Marmato mining complex in Caldas. Segovia is an established underground mining district with processing facilities, while Marmato includes existing operations and development opportunities intended to support long-term production.

The company also has exploration and development interests in Guyana, including the Toroparu project.

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