Zacks Research Upgrades Aris Mining (NYSE:ARIS) to Hold

Key Points

• Zacks Research upgraded Aris Mining from “strong sell” to “hold,” while Weiss Ratings separately raised its rating to “buy.” Analysts overall assign the stock a “Moderate Buy” consensus rating.
• Aris Mining shares opened at $17.42, down 1.9%, with a market capitalization of approximately $3.60 billion. The company recently reported quarterly EPS of $0.47, exceeding estimates of $0.39, on revenue of $330.23 million.
• Institutional ownership stands at 39.71%, with several investment firms increasing or initiating positions during the second quarter, including Amundi’s roughly $16.4 million investment.

Aris Mining (NYSE:ARIS - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Separately, 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 Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Aris Mining Stock Down 1.9%

ARIS stock opened at $17.42 on Tuesday. The firm has a market cap of $3.60 billion, a PE ratio of 12.62 and a beta of -0.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91. The firm's 50 day moving average price is $18.12 and its 200-day moving average price is $17.60. Aris Mining has a one year low of $8.75 and a one year high of $23.29.

Aris Mining (NYSE:ARIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. The firm had revenue of $330.23 million for the quarter. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. On average, equities research analysts anticipate that Aris Mining will post 2.28 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its position in shares of Aris Mining by 275.3% during the second quarter. Engineers Gate Manager LP now owns 120,499 shares of the company's stock worth $1,797,000 after buying an additional 88,394 shares during the period. Amundi acquired a new position in Aris Mining during the 2nd quarter worth about $16,446,000. TD Waterhouse Canada Inc. lifted its stake in Aris Mining by 41.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company's stock worth $93,000 after acquiring an additional 1,876 shares in the last quarter. Sigma Planning Corp purchased a new position in Aris Mining during the 2nd quarter valued at about $754,000. Finally, Sheets Smith Wealth Management purchased a new position in Aris Mining during the 2nd quarter valued at about $859,000. 39.71% of the stock is currently owned by institutional investors and hedge funds.

Aris Mining Company Profile

Aris Mining Corporation is a Canadian gold mining company focused on the exploration, development, and operation of gold properties in the Americas. The company's activities include underground and open-pit mining, mineral processing, exploration, project development, and related infrastructure and operational services.

Aris Mining's principal assets are in Colombia, including the Segovia Operations in Antioquia, a high-grade underground mining and processing complex, and the Marmato Operations in Caldas.

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