Cibc World Market Inc. Invests $4.72 Million in Aris Mining Co. $ARIS

Key Points

• CIBC World Markets purchased 316,835 shares of Aris Mining in the second quarter, valued at approximately $4.72 million and representing a 0.15% stake. Institutional investors collectively own 39.71% of the company.
• Analyst sentiment is mixed: three analysts rate ARIS a Buy, while one rates it Hold and another Sell. The stock has an average rating of Hold and a consensus price target of $17.00.
• Aris Mining reported quarterly EPS of $0.47, exceeding the $0.39 consensus estimate, on revenue of $330.23 million. Shares opened at $21.16, up 1.7%, with a one-year trading range of $7.39 to $23.29.

Cibc World Market Inc. purchased a new stake in Aris Mining Co. (NYSE:ARIS - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 316,835 shares of the company's stock, valued at approximately $4,721,000. Cibc World Market Inc. owned 0.15% of Aris Mining as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ARIS. Public Employees Retirement System of Ohio grew its stake in Aris Mining by 2.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,647 shares of the company's stock valued at $546,000 after buying an additional 1,441 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Aris Mining by 15.0% during the second quarter. FNY Investment Advisers LLC now owns 11,500 shares of the company's stock worth $171,000 after acquiring an additional 1,500 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Aris Mining during the first quarter worth $30,000. Kestra Advisory Services LLC bought a new position in shares of Aris Mining in the fourth quarter worth $27,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Aris Mining by 2.5% in the second quarter. Cetera Investment Advisers now owns 88,214 shares of the company's stock worth $593,000 after acquiring an additional 2,135 shares during the period. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARIS. Zacks Research lowered Aris Mining from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 5th. Weiss Ratings downgraded Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $17.00.

Aris Mining Stock Up 1.7%

Shares of NYSE:ARIS opened at $21.16 on Wednesday. The firm has a fifty day moving average price of $15.92 and a two-hundred day moving average price of $17.56. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 15.33 and a beta of -0.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.68. Aris Mining Co. has a one year low of $7.39 and a one year high of $23.29.

Aris Mining (NYSE:ARIS - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $330.23 million for the quarter. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. Analysts anticipate that Aris Mining Co. will post 2.28 EPS for the current fiscal year.

Aris Mining Company 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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