683 Capital Management LLC Trims Stock Position in Aris Mining Co. $ARMN

Key Points

• 683 Capital Management LLC sold 173,900 shares of Aris Mining Co., reducing its stake by 9.7% and holding approximately 1.625 million shares valued at $7.51 million.
• Various hedge funds have recently established new positions in Aris Mining, with total hedge fund ownership at 35.81%.
• Aris Mining currently holds an average analyst rating of "Hold," with one analyst rating it a Buy and another a Sell, following a recent downgrade by Zacks Research.

683 Capital Management LLC reduced its stake in shares of Aris Mining Co. (NYSE:ARMN - Free Report) by 9.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,625,000 shares of the company's stock after selling 173,900 shares during the quarter. 683 Capital Management LLC owned approximately 0.95% of Aris Mining worth $7,511,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Aris Mining by 21.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,999,250 shares of the company's stock valued at $13,862,000 after purchasing an additional 530,750 shares during the period. American Century Companies Inc. grew its holdings in Aris Mining by 37.4% during the first quarter. American Century Companies Inc. now owns 1,366,667 shares of the company's stock worth $6,316,000 after acquiring an additional 371,834 shares during the period. Invesco Ltd. grew its holdings in Aris Mining by 4.8% during the first quarter. Invesco Ltd. now owns 6,901,062 shares of the company's stock worth $32,021,000 after acquiring an additional 319,110 shares during the period. Deutsche Bank AG grew its holdings in Aris Mining by 28.8% during the first quarter. Deutsche Bank AG now owns 1,401,597 shares of the company's stock worth $6,503,000 after acquiring an additional 312,981 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Aris Mining in the fourth quarter valued at approximately $931,000. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

Aris Mining Trading Up 3.0%

Shares of NYSE ARMN traded up $0.27 during trading on Friday, reaching $9.18. The stock had a trading volume of 1,672,682 shares, compared to its average volume of 1,132,680. Aris Mining Co. has a fifty-two week low of $3.29 and a fifty-two week high of $9.58. The company has a market cap of $1.86 billion, a P/E ratio of -459.00 and a beta of -0.34. 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 business's 50-day moving average price is $7.40 and its 200-day moving average price is $6.07.

Analyst Ratings Changes

Several analysts have commented on the company. Canaccord Genuity Group raised their price objective on Aris Mining from $16.50 to $17.00 and gave the company a "buy" rating in a report on Thursday. National Bankshares restated an "outperform" rating on shares of Aris Mining in a research report on Wednesday, July 16th. Finally, Zacks Research downgraded Aris Mining from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, August 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $17.00.

Aris Mining 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.