1,805,487 Shares in Aris Mining Co. $ARIS Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 1,805,487 Aris Mining shares worth approximately $33.5 million during the first quarter, giving it an estimated 0.88% stake.
• Aris Mining reported quarterly earnings of $0.47 per share, exceeding estimates of $0.39, on revenue of $330.23 million. The company posted a 22.43% net margin and 22.82% return on equity.
• Shares recently traded at $17.89, up 2.8%, while analysts maintain a “Moderate Buy” consensus despite mixed ratings; the average price target is $17.00.

Bank of America Corp DE bought a new position in shares of Aris Mining Co. (NYSE:ARIS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,805,487 shares of the company's stock, valued at approximately $33,528,000. Bank of America Corp DE owned approximately 0.88% of Aris Mining as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in Aris Mining during the 4th quarter worth $27,000. RMG Wealth Management LLC purchased a new stake in shares of Aris Mining during the 1st quarter worth approximately $30,000. Global Retirement Partners LLC acquired a new stake in Aris Mining in the fourth quarter valued at $37,000. PNC Financial Services Group Inc. acquired a new stake in Aris Mining in the 1st quarter valued at about $45,000. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Aris Mining in the first quarter valued at approximately $46,000. 39.71% of the stock is owned by institutional investors and hedge funds.

Aris Mining Trading Up 2.8%

ARIS opened at $17.89 on Friday. Aris Mining Co. has a 12-month low of $6.70 and a 12-month high of $23.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.68. The stock has a market capitalization of $3.69 billion, a PE ratio of 12.96 and a beta of -0.14. The firm's fifty day moving average price is $15.36 and its 200 day moving average price is $17.58.

Aris Mining (NYSE:ARIS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.08. The company had revenue of $330.23 million during the quarter. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. As a group, research analysts expect that Aris Mining Co. will post 2.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ARIS shares. Zacks Research cut Aris Mining from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Aris Mining has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Aris Mining Profile

Aris Mining Corp, headquartered in Vancouver, British Columbia, is a mineral exploration and development company focused on advancing a diversified portfolio of precious metal and lithium assets. Listed on the New York Stock Exchange under the ticker ARMN, the company pursues a disciplined strategy of resource definition and project development to deliver value for its shareholders.

The firm’s principal assets include several high-grade gold projects across multiple continents and a strategic lithium property in the United States.

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