Aris Mining Co. (NYSE:ARMN) Short Interest Down 37.7% in September

Key Points

• Aris Mining Co. (NYSE: ARMN) experienced a 37.7% decrease in short interest in September, dropping from 2,360,000 shares to 1,470,000 shares.
• Institutional investors and hedge funds hold 35.81% of the company's stock, with several firms recently adjusting their stakes, including Vanguards's 16.9% increase in the second quarter.
• Analysts have given Aris Mining a Moderate Buy rating, with an average target price of $17.00 as several firms upgraded their assessments in recent months.

Aris Mining Co. (NYSE:ARMN - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 1,470,000 shares, a decrease of 37.7% from the September 15th total of 2,360,000 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.8% of the shares of the company are sold short.

Institutional Trading of Aris Mining

A number of hedge funds have recently added to or reduced their stakes in ARMN. Quantbot Technologies LP acquired a new stake in Aris Mining in the first quarter valued at approximately $76,000. GWN Securities Inc. acquired a new stake in Aris Mining in the second quarter valued at approximately $76,000. Vanguard Personalized Indexing Management LLC boosted its position in Aris Mining by 16.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company's stock valued at $83,000 after buying an additional 1,780 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Aris Mining during the first quarter worth $116,000. Finally, Virtu Financial LLC acquired a new position in shares of Aris Mining during the first quarter worth $117,000. Institutional investors and hedge funds own 35.81% of the company's stock.

Aris Mining Price Performance

Shares of NYSE ARMN traded up $0.13 during trading hours on Wednesday, hitting $9.61. 986,622 shares of the stock were exchanged, compared to its average volume of 1,254,830. Aris Mining has a 1-year low of $3.29 and a 1-year high of $11.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The company has a market cap of $1.95 billion, a PE ratio of -480.50 and a beta of -0.30. The company's fifty day simple moving average is $9.23 and its two-hundred day simple moving average is $7.36.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ARMN shares. Zacks Research raised shares of Aris Mining from a "strong sell" rating to a "hold" rating in a report on Friday, October 10th. BMO Capital Markets reissued an "outperform" rating on shares of Aris Mining in a report on Thursday, September 4th. Canaccord Genuity Group raised their target price on shares of Aris Mining from $16.50 to $17.00 and gave the stock a "buy" rating in a report on Thursday, September 4th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Aris Mining in a report on Monday, September 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $17.00.

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.

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