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

Key Points

• Aris Mining reached a new 52-week high of $10.51, a significant increase from its previous close of $10.05, with a trading volume of over 43,000 shares.
• Analysts have mixed ratings on ARMN, with Zacks downgrading it to a "strong sell," while Canaccord Genuity raised its price target to $17.00, reflecting a consensus rating of "Moderate Buy."
• Institutional investors show increased interest, collectively owning 35.81% of Aris Mining, with notable purchases by Bank of America and BNP Paribas Financial Markets during the second quarter.

Aris Mining Co. (NYSE:ARMN - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $10.47 and last traded at $10.51, with a volume of 43081 shares trading hands. The stock had previously closed at $10.05.

Analysts Set New Price Targets

A number of research firms recently commented on ARMN. Zacks Research cut shares of Aris Mining from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 21st. National Bankshares reaffirmed an "outperform" rating on shares of Aris Mining in a research report on Monday, September 8th. BMO Capital Markets reissued an "outperform" rating on shares of Aris Mining in a report on Thursday, September 4th. Finally, Canaccord Genuity Group boosted their price objective on Aris Mining from $16.50 to $17.00 and gave the company a "buy" rating in a research note on Thursday, September 4th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Aris Mining currently has an average rating of "Moderate Buy" and a consensus target price of $17.00.

Aris Mining Price Performance

The business's 50-day moving average price is $8.43 and its 200 day moving average price is $6.88. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.12 billion, a P/E ratio of -523.05 and a beta of -0.30.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in Aris Mining during the second quarter valued at $2,308,000. Bank of America Corp DE raised its holdings in shares of Aris Mining by 131.2% in the 2nd quarter. Bank of America Corp DE now owns 1,065,642 shares of the company's stock valued at $7,161,000 after acquiring an additional 604,672 shares in the last quarter. PDT Partners LLC boosted its position in shares of Aris Mining by 45.5% during the 2nd quarter. PDT Partners LLC now owns 193,709 shares of the company's stock valued at $1,302,000 after acquiring an additional 60,616 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Aris Mining by 28.1% during the second quarter. Raymond James Financial Inc. now owns 111,961 shares of the company's stock worth $752,000 after purchasing an additional 24,556 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Aris Mining by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 566,697 shares of the company's stock worth $3,808,000 after purchasing an additional 45,100 shares during the last quarter. 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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