Aris Mining (NYSE:ARMN) Shares Down 9.4% - Here's What Happened

Key Points

• Aris Mining's stock price fell by 9.4%, closing at $9.05, after trading as low as $9.34 amid increased trading volume.
• Analysts have mixed ratings for Aris Mining, with a consensus rating of "Moderate Buy" and a price target raised to $17.00 by Canaccord Genuity Group, while Zacks Research downgraded it to a "strong sell."
• Institutional investors currently hold 35.81% of Aris Mining's stock, with several firms recently purchasing new positions or increasing their stake.

Aris Mining Co. (NYSE:ARMN - Get Free Report)'s share price was down 9.4% during mid-day trading on Tuesday . The stock traded as low as $9.34 and last traded at $9.05. Approximately 1,283,083 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 1,213,122 shares. The stock had previously closed at $9.99.

Analyst Ratings Changes

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

Aris Mining Stock Performance

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 cap of $1.91 billion, a PE ratio of -471.00 and a beta of -0.34. The business's fifty day moving average is $7.97 and its 200-day moving average is $6.54.

Institutional Investors Weigh In On Aris Mining

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in Aris Mining in the first quarter worth $76,000. GWN Securities Inc. purchased a new position in Aris Mining during the second quarter worth $76,000. Vanguard Personalized Indexing Management LLC boosted its stake in Aris Mining by 16.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company's stock worth $83,000 after buying an additional 1,780 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in Aris Mining during the first quarter worth $116,000. Finally, Virtu Financial LLC purchased a new position in Aris Mining during the first quarter worth $117,000. 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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