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

Key Points

• Aris Mining Co. (NYSE:ARMN) reached a new 52-week high of $10.94 during trading, closing at $10.87 with a trading volume of 308,597 shares.
• Analysts have upgraded Aris Mining's ratings, with Zacks Research shifting from a "strong sell" to a "hold," and Canaccord Genuity setting a price target of $17.00.
• The company has a market cap of $2.19 billion and a consensus rating of "Moderate Buy," indicating positive investor sentiment despite its negative PE ratio.

Shares of Aris Mining Co. (NYSE:ARMN - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $10.94 and last traded at $10.87, with a volume of 308597 shares changing hands. The stock had previously closed at $10.73.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Zacks Research upgraded shares of Aris Mining from a "strong sell" rating to a "hold" rating in a research report on Friday. National Bankshares reissued an "outperform" rating on shares of Aris Mining in a research note on Monday, September 8th. Canaccord Genuity Group lifted their price target on Aris Mining from $16.50 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, September 4th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Aris Mining in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.00.

Aris Mining Stock Performance

The company has a market cap of $2.19 billion, a PE ratio of -541.25 and a beta of -0.30. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average of $8.83 and a 200-day moving average of $7.12.

Institutional Trading of Aris Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. bought a new position in Aris Mining in the 1st quarter worth $116,000. Cetera Investment Advisers increased its position in shares of Aris Mining by 3.1% during the first quarter. Cetera Investment Advisers now owns 86,079 shares of the company's stock valued at $398,000 after buying an additional 2,571 shares during the period. TD Asset Management Inc increased its position in shares of Aris Mining by 3.0% during the first quarter. TD Asset Management Inc now owns 163,437 shares of the company's stock valued at $755,000 after buying an additional 4,717 shares during the period. Mackenzie Financial Corp boosted its position in Aris Mining by 9.3% during the 1st quarter. Mackenzie Financial Corp now owns 76,546 shares of the company's stock valued at $354,000 after acquiring an additional 6,537 shares in the last quarter. Finally, Alberta Investment Management Corp boosted its position in Aris Mining by 6.4% during the 1st quarter. Alberta Investment Management Corp now owns 1,102,664 shares of the company's stock valued at $5,095,000 after acquiring an additional 66,614 shares in the last quarter. Hedge funds and other 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.

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