Aris Mining (NYSE:ARIS) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Aris Mining from strong sell to hold, while Weiss Ratings separately cut the stock from buy to hold.
• The stock was down 7.7% and opened at $14.03, below its 52-week high of $23.29 and above its 52-week low of $6.65.
• Aris Mining recently missed earnings estimates, reporting $0.57 EPS versus the expected $0.62; analysts still have a Moderate Buy consensus with a $17.00 target price.

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

Separately, Weiss Ratings lowered shares of Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Aris Mining Stock Down 7.7%

NYSE ARIS opened at $14.03 on Tuesday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 16.70 and a beta of -0.22. Aris Mining has a 52 week low of $6.65 and a 52 week high of $23.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 1.78. The stock has a fifty day moving average of $16.88 and a 200-day moving average of $17.98.

Aris Mining (NYSE:ARIS - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.05). The firm had revenue of $372.48 million for the quarter. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%. On average, equities research analysts forecast that Aris Mining will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARIS. RMG Wealth Management LLC bought a new position in shares of Aris Mining during the 1st quarter valued at about $30,000. Kestra Advisory Services LLC acquired a new position in shares of Aris Mining in the fourth quarter valued at approximately $27,000. Global Retirement Partners LLC bought a new stake in shares of Aris Mining during the fourth quarter worth $37,000. PNC Financial Services Group Inc. acquired a new stake in shares of Aris Mining during the first quarter worth $45,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Aris Mining during the first quarter worth $46,000. 39.71% of the stock is owned by institutional investors and hedge funds.

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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