Goldman Sachs Group Inc. Buys 167,212 Shares of Aris Mining Co. $ARMN

Key Points

• Goldman Sachs Group Inc. increased its stake in Aris Mining Co. by 31.0%, owning approximately 706,876 shares valued at $3.28 million after purchasing an additional 167,212 shares.
• Other hedge funds, including Invesco and Deutsche Bank, also raised their stakes in Aris Mining during the first quarter, contributing to institutional investors owning 35.81% of the company.
• Despite recent increases in ownership, Aris Mining's stock has seen a decline of 3.6%, trading at $9.19 with a consensus rating of "Moderate Buy" from analysts.

Goldman Sachs Group Inc. increased its stake in Aris Mining Co. (NYSE:ARMN - Free Report) by 31.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 706,876 shares of the company's stock after purchasing an additional 167,212 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.39% of Aris Mining worth $3,280,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. grew its stake in Aris Mining by 4.8% in the 1st quarter. Invesco Ltd. now owns 6,901,062 shares of the company's stock valued at $32,021,000 after buying an additional 319,110 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Aris Mining by 21.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,999,250 shares of the company's stock valued at $13,862,000 after buying an additional 530,750 shares in the last quarter. Deutsche Bank AG grew its stake in Aris Mining by 28.8% in the 1st quarter. Deutsche Bank AG now owns 1,401,597 shares of the company's stock valued at $6,503,000 after buying an additional 312,981 shares in the last quarter. American Century Companies Inc. grew its stake in Aris Mining by 37.4% in the 1st quarter. American Century Companies Inc. now owns 1,366,667 shares of the company's stock valued at $6,316,000 after buying an additional 371,834 shares in the last quarter. Finally, Alberta Investment Management Corp grew its stake in Aris Mining by 6.4% in the 1st quarter. Alberta Investment Management Corp now owns 1,102,664 shares of the company's stock valued at $5,095,000 after buying an additional 66,614 shares in the last quarter. Institutional investors own 35.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARMN. BMO Capital Markets reiterated an "outperform" rating on shares of Aris Mining in a research note on Thursday, September 4th. Canaccord Genuity Group boosted their price target on shares of Aris Mining from $16.50 to $17.00 and gave the company a "buy" rating in a research report on Thursday, September 4th. Zacks Research lowered shares of Aris Mining from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, August 21st. Finally, National Bankshares restated an "outperform" rating on shares of Aris Mining in a research report on Monday, September 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Aris Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Aris Mining Stock Down 3.6%

Shares of NYSE:ARMN opened at $9.19 on Friday. 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 firm has a market capitalization of $1.86 billion, a PE ratio of -459.50 and a beta of -0.34. The firm has a fifty day moving average of $7.87 and a 200 day moving average of $6.42. Aris Mining Co. has a 52-week low of $3.29 and a 52-week high of $9.95.

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.

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