Aris Mining (NYSE:ARMN) Hits New 52-Week High - Here's Why

Shares of Aris Mining Co. (NYSE:ARMN - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $5.65 and last traded at $5.52, with a volume of 1637589 shares changing hands. The stock had previously closed at $5.41.

Aris Mining Stock Performance

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 company has a market cap of $905.65 million, a P/E ratio of -263.50 and a beta of -0.46. The company has a 50 day moving average price of $4.47 and a 200-day moving average price of $4.16.

Hedge Funds Weigh In On Aris Mining

A number of institutional investors have recently added to or reduced their stakes in ARMN. Invesco Ltd. increased its stake in shares of Aris Mining by 51.8% in the fourth quarter. Invesco Ltd. now owns 6,581,952 shares of the company's stock valued at $23,037,000 after buying an additional 2,245,775 shares during the period. Ruffer LLP raised its position in shares of Aris Mining by 15.2% during the fourth quarter. Ruffer LLP now owns 5,687,273 shares of the company's stock worth $19,940,000 after acquiring an additional 751,473 shares during the last quarter. Artisan Partners Limited Partnership lifted its stake in shares of Aris Mining by 72.1% in the fourth quarter. Artisan Partners Limited Partnership now owns 821,679 shares of the company's stock worth $2,876,000 after acquiring an additional 344,179 shares during the period. National Bank of Canada FI boosted its holdings in Aris Mining by 196.6% in the fourth quarter. National Bank of Canada FI now owns 430,270 shares of the company's stock valued at $1,507,000 after acquiring an additional 285,222 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Aris Mining during the 4th quarter valued at approximately $931,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

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.