Nuveen LLC Buys Shares of 127,371 Aris Mining Co. $ARMN

Key Points

• Nuveen LLC acquired 127,371 shares of Aris Mining Co. in Q1, valuing the investment at approximately $589,000, which represents about 0.07% ownership in the company.
• Institutional investors now hold 35.81% of Aris Mining stock, with various hedge funds adjusting their stakes, including MIRAE ASSET GLOBAL acquiring shares worth $931,000.
• Analysts have mixed opinions on Aris Mining, with one maintaining a "Buy" rating while Zacks Research downgraded it from "strong-buy" to "strong sell," resulting in an average rating of "Hold."

Nuveen LLC purchased a new position in shares of Aris Mining Co. (NYSE:ARMN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 127,371 shares of the company's stock, valued at approximately $589,000. Nuveen LLC owned 0.07% of Aris Mining at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ARMN. Cambridge Investment Research Advisors Inc. acquired a new position in Aris Mining during the first quarter valued at approximately $116,000. Virtu Financial LLC acquired a new stake in Aris Mining in the first quarter worth about $117,000. Raymond James Financial Inc. acquired a new stake in Aris Mining in the fourth quarter worth about $128,000. Charles Schwab Investment Management Inc. acquired a new stake in Aris Mining in the first quarter worth about $284,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Aris Mining in the fourth quarter worth about $234,000. 35.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. National Bankshares reissued an "outperform" rating on shares of Aris Mining in a research report on Wednesday, July 16th. Canaccord Genuity Group lifted their target price on shares of Aris Mining from $16.50 to $17.00 and gave the company a "buy" rating in a research report on Thursday. BMO Capital Markets reiterated an "outperform" rating on shares of Aris Mining in a report on Thursday. Finally, 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. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aris Mining presently has an average rating of "Moderate Buy" and an average target price of $17.00.

Aris Mining Stock Performance

ARMN traded up $0.12 during trading on Monday, reaching $9.30. The company's stock had a trading volume of 854,113 shares, compared to its average volume of 1,130,842. The company's fifty day moving average price is $7.40 and its 200-day moving average price is $6.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -464.75 and a beta of -0.34. Aris Mining Co. has a 52-week low of $3.29 and a 52-week high of $9.58.

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.