Aris Mining (NYSE:ARMN) Sets New 12-Month High - Here's What Happened

Key Points

• Aris Mining's shares reached a new 52-week high of $9.69, closing at $9.59 after a trading volume of 443,351 shares.
• Analyst ratings for Aris Mining are mixed, with Canaccord Genuity raising the target price to $17.00, while Zacks Research downgraded the stock to a "strong sell" rating.
• Institutional investors hold 35.81% of Aris Mining's shares, with notable increases in stakes from Deutsche Bank AG and Cetera Investment Advisers during the fourth quarter.

Aris Mining Co. (NYSE:ARMN - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $9.69 and last traded at $9.59, with a volume of 443351 shares trading hands. The stock had previously closed at $9.38.

Analyst Ratings Changes

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

Aris Mining Stock Performance

The firm has a market capitalization of $1.95 billion, a P/E ratio of -482.25 and a beta of -0.34. The company's 50 day moving average is $7.50 and its 200-day moving average is $6.15. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Aris Mining in the fourth quarter valued at $128,000. Cetera Investment Advisers increased its position in shares of Aris Mining by 10.7% during the fourth quarter. Cetera Investment Advisers now owns 83,508 shares of the company's stock valued at $293,000 after acquiring an additional 8,102 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Aris Mining by 25.3% in the 4th quarter. Deutsche Bank AG now owns 1,088,616 shares of the company's stock worth $3,810,000 after buying an additional 219,810 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Aris Mining during the 4th quarter valued at $931,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Aris Mining in the fourth quarter worth $234,000. 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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