Alberta Investment Management Corp Takes Position in Aris Mining Co. $ARIS

Key Points

• Alberta Investment Management Corp acquired 55,121 Aris Mining shares worth approximately $821,000, while several other major institutions also initiated or expanded positions. Institutional investors now own 39.71% of the company.
• Aris Mining reported quarterly earnings of $0.47 per share, beating analyst expectations of $0.39, on revenue of $330.23 million. The company posted a 22.43% net margin and 22.82% return on equity.
• Analyst sentiment is mixed but leans positive, with four Buy ratings and one Sell rating. MarketBeat lists a “Moderate Buy” consensus and an average price target of $17.00, below the reported share price of $18.17.

Alberta Investment Management Corp acquired a new position in Aris Mining Co. (NYSE:ARIS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 55,121 shares of the company's stock, valued at approximately $821,000.

Several other large investors have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new position in Aris Mining in the 1st quarter worth approximately $97,429,000. FIL Ltd bought a new position in shares of Aris Mining in the fourth quarter worth approximately $62,900,000. Merewether Investment Management LP bought a new position in shares of Aris Mining in the third quarter worth approximately $18,748,000. Amundi increased its stake in shares of Aris Mining by 3,670.1% in the second quarter. Amundi now owns 1,885,031 shares of the company's stock worth $12,969,000 after buying an additional 1,835,031 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Aris Mining in the first quarter worth $33,528,000. Hedge funds and other institutional investors own 39.71% of the company's stock.

Aris Mining Price Performance

Shares of ARIS stock opened at $18.17 on Tuesday. The firm has a market cap of $3.75 billion, a P/E ratio of 13.17 and a beta of -0.14. Aris Mining Co. has a fifty-two week low of $6.70 and a fifty-two week high of $23.29. The business's 50 day moving average price is $15.41 and its 200-day moving average price is $17.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91.

Aris Mining (NYSE:ARIS - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.08. The company had revenue of $330.23 million during the quarter. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. On average, equities research analysts anticipate that Aris Mining Co. will post 2.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ARIS shares. Zacks Research lowered shares of Aris Mining from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 5th. Weiss Ratings raised shares of Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, August 6th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Aris Mining has an average rating of "Moderate Buy" and an average 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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