Engineers Gate Manager LP Acquires 88,394 Shares of Aris Mining Co. $ARIS

Key Points

• Engineers Gate Manager LP increased its Aris Mining stake by 275.3% in the second quarter, acquiring 88,394 shares for a total of 120,499 shares valued at approximately $1.8 million. Institutional investors collectively own 39.71% of the company.
• Analyst sentiment has weakened, with Zacks Research downgrading Aris Mining to “strong sell” and Weiss Ratings moving its view to “hold.” The stock has a consensus rating of “Hold” from four analysts.
• Aris Mining reported quarterly adjusted earnings of $0.47 per share, beating estimates of $0.39, on revenue of $330.23 million. Shares opened at $18.52, compared with a 52-week range of $8.75 to $23.29.

Engineers Gate Manager LP grew its stake in Aris Mining Co. (NYSE:ARIS - Free Report) by 275.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,499 shares of the company's stock after acquiring an additional 88,394 shares during the period. Engineers Gate Manager LP owned 0.06% of Aris Mining worth $1,797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARIS. Amundi acquired a new position in Aris Mining during the second quarter valued at approximately $16,446,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Aris Mining by 41.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company's stock valued at $93,000 after buying an additional 1,876 shares during the last quarter. Sigma Planning Corp bought a new position in shares of Aris Mining in the second quarter valued at $754,000. Sheets Smith Wealth Management acquired a new position in Aris Mining during the second quarter worth $859,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Aris Mining during the second quarter worth $1,674,000. Institutional investors and hedge funds own 39.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ARIS. Zacks Research downgraded shares of Aris Mining from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aris Mining presently has a consensus rating of "Hold".

Aris Mining Stock Performance

NYSE ARIS opened at $18.52 on Wednesday. The firm has a 50-day moving average of $17.18 and a 200-day moving average of $17.65. 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 stock has a market cap of $3.82 billion, a PE ratio of 13.42 and a beta of -0.06. Aris Mining Co. has a 52-week low of $8.75 and a 52-week high of $23.29.

Aris Mining (NYSE:ARIS - Get Free Report) last announced its quarterly 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 business 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%. On average, sell-side analysts anticipate that Aris Mining Co. will post 2.28 EPS for the current year.

Aris Mining Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.