Aris Mining (NYSE:ARIS) Shares Down 5.5% - Here's Why

Key Points

• Aris Mining shares fell about 5.5% to $20.46 midday on Wednesday on thin trading volume (298,514 shares, down ~85% versus the average session volume).
• Several brokerages upgraded the stock (Weiss, Zacks, BMO), and the consensus analyst rating is Buy, but the consensus target price is only $17.00, below the current share price.
• The company missed quarterly EPS ($0.37 vs. $0.54 expected) on $308.6M revenue; valuation metrics include a P/E of 54.08 and a market cap of about $4.22 billion.

Aris Mining Co. (NYSE:ARIS - Get Free Report) shares fell 5.5% during mid-day trading on Wednesday . The stock traded as low as $20.56 and last traded at $20.4620. 298,514 shares were traded during trading, a decline of 85% from the average session volume of 1,984,772 shares. The stock had previously closed at $21.65.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ARIS. Weiss Ratings raised shares of Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, March 25th. Zacks Research raised shares of Aris Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Aris Mining in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to data from MarketBeat, Aris Mining presently has an average rating of "Buy" and a consensus target price of $17.00.

Aris Mining Trading Down 5.1%

The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.32. The firm's 50-day simple moving average is $18.91 and its 200 day simple moving average is $15.65. The stock has a market capitalization of $4.22 billion, a P/E ratio of 54.08 and a beta of -0.13.

Aris Mining (NYSE:ARIS - Get Free Report) last issued its quarterly earnings results on Wednesday, March 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). The business had revenue of $308.57 million during the quarter. Aris Mining had a return on equity of 15.59% and a net margin of 8.45%. Equities research analysts anticipate that Aris Mining Co. will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Aris Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in Aris Mining during the fourth quarter valued at $27,000. Global Retirement Partners LLC bought a new position in shares of Aris Mining in the 4th quarter valued at approximately $37,000. PNC Financial Services Group Inc. bought a new position in shares of Aris Mining in the fourth quarter valued at approximately $45,000. Banque Cantonale Vaudoise acquired a new position in Aris Mining during the 3rd quarter worth $93,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Aris Mining during the 3rd quarter worth about $98,000. Institutional investors and hedge funds 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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