Aris Mining (NYSE:ARIS) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Aris Mining from “hold” to “strong sell,” while Weiss Ratings separately lowered its rating from “buy (b-)” to “hold (c+).” MarketBeat’s overall analyst consensus remains “Hold,” with an average price target of $17.00.
• Aris Mining reported quarterly EPS of $0.47, exceeding the $0.39 consensus estimate, on revenue of $330.23 million. The company posted a 22.43% net margin and 22.82% return on equity.
• The stock opened at $15.79, compared with its 12-month range of $6.65 to $23.29, and institutional investors own approximately 39.71% of the company.

Aris Mining (NYSE:ARIS - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings cut shares of Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Aris Mining currently has an average rating of "Hold" and an average target price of $17.00.

Aris Mining Price Performance

NYSE ARIS opened at $15.79 on Wednesday. The firm's 50 day moving average is $15.32 and its 200-day moving average is $17.64. The company has a quick ratio of 1.68, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $3.26 billion, a PE ratio of 11.44 and a beta of -0.14. Aris Mining has a 12-month low of $6.65 and a 12-month high of $23.29.

Aris Mining (NYSE:ARIS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $330.23 million during the quarter. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. Equities research analysts anticipate that Aris Mining will post 2.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aris Mining

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Aris Mining by 96.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company's stock valued at $2,410,000 after buying an additional 256,022 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Aris Mining by 31.0% during the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company's stock worth $3,280,000 after acquiring an additional 167,212 shares in the last quarter. Geode Capital Management LLC lifted its stake in Aris Mining by 3.0% in the second quarter. Geode Capital Management LLC now owns 89,102 shares of the company's stock valued at $599,000 after acquiring an additional 2,617 shares during the last quarter. Cetera Investment Advisers lifted its stake in Aris Mining by 2.5% in the second quarter. Cetera Investment Advisers now owns 88,214 shares of the company's stock valued at $593,000 after acquiring an additional 2,135 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Aris Mining in the 2nd quarter valued at about $548,000. Institutional investors own 39.71% of the company's stock.

About Aris Mining

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.

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