Aris Mining (NYSE:ARMN) Hits New 12-Month High - Should You Buy?

Key Points

• Aris Mining's stock reached a new 52-week high of $9.95, closing at $9.90 with a trading volume of over 1 million shares.
• Analyst ratings for Aris Mining are mixed, with Zacks downgrading the stock from "strong-buy" to "strong sell," while Canaccord Genuity increased its price target to $17.00, maintaining a "buy" rating.
• Institutional investors have significantly increased their positions in Aris Mining, with notable stakes purchased by Hillsdale Investment Management and JPMorgan Chase, which now owns over 1.8 million shares.

Aris Mining Co. (NYSE:ARMN - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $9.95 and last traded at $9.90, with a volume of 1018093 shares. The stock had previously closed at $9.51.

Analyst Ratings Changes

A number of research firms have commented on ARMN. Zacks Research lowered shares of Aris Mining from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 21st. Canaccord Genuity Group upped their price target on shares of Aris Mining from $16.50 to $17.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. BMO Capital Markets reiterated an "outperform" rating on shares of Aris Mining in a research note on Thursday, September 4th. Finally, National Bankshares reiterated an "outperform" rating on shares of Aris Mining in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $17.00.

Aris Mining Price Performance

The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -470.75 and a beta of -0.34. The business's fifty day moving average price is $7.97 and its 200-day moving average price is $6.54. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13.

Institutional Trading of Aris Mining

Hedge funds have recently added to or reduced their stakes in the stock. GWN Securities Inc. bought a new stake in Aris Mining during the 2nd quarter worth approximately $76,000. Vanguard Personalized Indexing Management LLC raised its holdings in Aris Mining by 16.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company's stock worth $83,000 after purchasing an additional 1,780 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Aris Mining in the 1st quarter worth about $76,000. Gamco Investors INC. ET AL purchased a new stake in shares of Aris Mining in the 2nd quarter worth about $121,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Aris Mining in the 1st quarter worth about $116,000. Institutional investors own 35.81% of the company's stock.

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.