Aris Mining (NYSE:ARMN) Hits New 1-Year High - Still a Buy?

Key Points

• Aris Mining's share price reached a new 52-week high of $8.92, indicating strong performance in the market.
• Equities analysts have mixed opinions on the stock, with National Bankshares maintaining an "outperform" rating while Zacks Research downgraded it to a "strong sell".
• Institutional investors collectively own 35.81% of Aris Mining's shares, with significant stake increases from firms like Bank of America and BNP Paribas.

Aris Mining Co. (NYSE:ARMN - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $8.92 and last traded at $8.68, with a volume of 81379 shares trading hands. The stock had previously closed at $8.68.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ARMN shares. National Bankshares reiterated an "outperform" rating on shares of Aris Mining in a report on Wednesday, July 16th. Zacks Research downgraded Aris Mining from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Aris Mining presently has a consensus rating of "Hold".

Aris Mining Price Performance

The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -431.75 and a beta of -0.34. The company has a 50-day moving average of $7.22 and a 200-day moving average of $5.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45.

Hedge Funds Weigh In On Aris Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in shares of Aris Mining during the 2nd quarter worth approximately $2,308,000. Bank of America Corp DE raised its holdings in shares of Aris Mining by 131.2% in the second quarter. Bank of America Corp DE now owns 1,065,642 shares of the company's stock worth $7,161,000 after acquiring an additional 604,672 shares during the last quarter. PDT Partners LLC raised its holdings in shares of Aris Mining by 45.5% in the second quarter. PDT Partners LLC now owns 193,709 shares of the company's stock worth $1,302,000 after acquiring an additional 60,616 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Aris Mining by 28.1% during the 2nd quarter. Raymond James Financial Inc. now owns 111,961 shares of the company's stock worth $752,000 after purchasing an additional 24,556 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Aris Mining by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 566,697 shares of the company's stock worth $3,808,000 after purchasing an additional 45,100 shares during the period. Institutional investors and hedge funds 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.

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