Bank of America Corp DE Acquires New Shares in Aris Mining Co. $ARIS

Key Points

• Bank of America acquired 961,782 Aris Mining shares in the second quarter, valued at approximately $14.34 million and representing about 0.47% of the company. Institutional investors and hedge funds collectively own 39.71% of ARIS.
• Analyst sentiment is broadly positive, with three Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating, despite Zacks Research downgrading the stock to “Strong Sell.”
• Aris Mining reported quarterly EPS of $0.47, beating the $0.39 consensus estimate, on revenue of $330.23 million. The stock opened at $18.95, compared with a 52-week range of $8.75 to $23.29.

Bank of America Corp DE acquired a new position in shares of Aris Mining Co. (NYSE:ARIS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 961,782 shares of the company's stock, valued at approximately $14,340,000. Bank of America Corp DE owned about 0.47% of Aris Mining as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ARIS. Caisse de depot et placement du Quebec acquired a new position in Aris Mining during the second quarter worth about $3,062,000. Man Group plc purchased a new position in Aris Mining during the second quarter worth $1,527,000. PDT Partners LLC purchased a new position in Aris Mining during the second quarter worth $1,601,000. Legal & General Group Plc acquired a new position in shares of Aris Mining in the second quarter worth $7,749,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Aris Mining in the second quarter worth $2,744,000. Institutional investors and hedge funds own 39.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARIS. Zacks Research cut shares of Aris Mining from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 5th. Weiss Ratings raised Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 18th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Aris Mining Trading Up 1.6%

NYSE ARIS opened at $18.95 on Friday. Aris Mining Co. has a one year low of $8.75 and a one year high of $23.29. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 13.74 and a beta of -0.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91. The company's 50 day moving average price is $17.94 and its 200 day moving average price is $17.65.

Aris Mining (NYSE:ARIS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.08. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%.The company had revenue of $330.23 million for the quarter. On average, sell-side analysts predict that Aris Mining Co. will post 2.28 EPS for the current year.

About Aris Mining

Aris Mining Corporation is a gold mining company focused on the exploration, development and operation of mineral properties in Colombia. The company produces gold and associated silver through its underground and processing operations, with a strategy centered on expanding production, extending mine lives and advancing exploration opportunities in established mining districts.

Aris Mining's principal assets include the Segovia Operations in Antioquia, Colombia, a long-running high-grade underground mining complex, and the Marmato Mining Complex in Caldas, Colombia.

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