Aris Mining (NYSE:ARMN) Sets New 1-Year High - What's Next?

Key Points

• Aris Mining Co. reached a new 52-week high, trading at $10.08 and closing at $9.98, indicating strong stock performance with 782,395 shares exchanged.
• Analysts maintain a consensus rating of Moderate Buy, with target prices ranging from $16.50 to $17.00, despite a mix of upgrades and downgrades from several equity research firms.
• Institutional investors hold 35.81% of Aris Mining's stock, with significant positions taken by firms like Goldman Sachs, indicating growing interest from large investors.

Aris Mining Co. (NYSE:ARMN - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $10.08 and last traded at $9.98, with a volume of 782395 shares traded. The stock had previously closed at $9.65.

Analyst Upgrades and Downgrades

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

Aris Mining Trading Up 2.0%

The firm has a market cap of $1.99 billion, a P/E ratio of -492.25 and a beta of -0.34. The stock has a fifty day simple moving average of $8.17 and a 200 day simple moving average of $6.69. 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

Several large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Aris Mining in the first quarter worth about $116,000. Goldman Sachs Group Inc. increased its stake in Aris Mining by 31.0% during the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company's stock worth $3,280,000 after acquiring an additional 167,212 shares during the last quarter. Mackenzie Financial Corp increased its stake in Aris Mining by 4.2% during the fourth quarter. Mackenzie Financial Corp now owns 70,009 shares of the company's stock worth $245,000 after acquiring an additional 2,790 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Aris Mining during the fourth quarter worth approximately $234,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in Aris Mining during the first quarter worth approximately $284,000. 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.

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