Aris Mining (NYSE:ARIS) Releases Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• Aris Mining beat earnings expectations: The company reported quarterly EPS of $0.47, exceeding the $0.39 analyst consensus by $0.08. Net margin was 15.19%, while return on equity reached 20.97%.
• Shares fell 4.0% to $13.89 despite the earnings beat, and remain below their 50-day and 200-day moving averages. The stock has traded between $6.65 and $23.29 over the past year.
• Analyst sentiment remains cautiously positive, with a consensus “Moderate Buy” rating and an average price target of $17.00; institutional investors own approximately 39.71% of the company.

Aris Mining (NYSE:ARIS - Get Free Report) posted its earnings results on Wednesday. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.08, Zacks reports. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%.

Aris Mining Stock Down 4.0%

NYSE ARIS traded down $0.58 during mid-day trading on Wednesday, reaching $13.89. 1,835,732 shares of the company's stock traded hands, compared to its average volume of 1,671,461. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. Aris Mining has a 1-year low of $6.65 and a 1-year high of $23.29. The company has a fifty day simple moving average of $15.62 and a 200-day simple moving average of $17.77. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 16.53 and a beta of -0.22.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Zacks Research upgraded Aris Mining from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Aris Mining currently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Institutional Trading of Aris Mining

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Aris Mining by 2.7% in the third quarter. Public Employees Retirement System of Ohio now owns 55,647 shares of the company's stock valued at $546,000 after acquiring an additional 1,441 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Aris Mining in the 4th quarter worth about $27,000. Cetera Investment Advisers increased its position in shares of Aris Mining by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company's stock worth $593,000 after purchasing an additional 2,135 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Aris Mining in the 4th quarter valued at about $37,000. Finally, Geode Capital Management LLC raised its stake in shares of Aris Mining by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company's stock valued at $599,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 39.71% of the company's stock.

Aris Mining Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.