Aris Mining (NYSE:ARMN) Reaches New 52-Week High - Still a Buy?

Aris Mining Co. (NYSE:ARMN - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $7.02 and last traded at $6.97, with a volume of 673428 shares changing hands. The stock had previously closed at $6.85.

Analyst Upgrades and Downgrades

Separately, National Bankshares reiterated an "outperform" rating on shares of Aris Mining in a report on Tuesday.

Aris Mining Trading Down 1.3%

The firm has a market capitalization of $1.23 billion, a PE ratio of -340.00 and a beta of -0.32. The firm's fifty day moving average is $6.13 and its two-hundred day moving average is $4.76. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in Aris Mining by 3.1% in the first quarter. Cetera Investment Advisers now owns 86,079 shares of the company's stock valued at $398,000 after acquiring an additional 2,571 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Aris Mining by 4.2% in the fourth quarter. Mackenzie Financial Corp now owns 70,009 shares of the company's stock valued at $245,000 after acquiring an additional 2,790 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Aris Mining by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 80,860 shares of the company's stock valued at $284,000 after buying an additional 3,176 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Aris Mining by 3.0% during the 1st 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 in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Aris Mining by 13.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 60,000 shares of the company's stock valued at $210,000 after buying an additional 7,000 shares in the last quarter. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

About Aris Mining

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.