Aris Mining Co. $ARMN Shares Acquired by Goldman Sachs Group Inc.

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. boosted its holdings in Aris Mining Co. (NYSE:ARMN - Free Report) by 31.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 706,876 shares of the company's stock after acquiring an additional 167,212 shares during the quarter. Goldman Sachs Group Inc. owned 0.39% of Aris Mining worth $3,280,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of Aris Mining during the first quarter valued at about $76,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Aris Mining during the first quarter valued at approximately $116,000. Virtu Financial LLC bought a new position in Aris Mining in the first quarter worth approximately $117,000. Sprott Inc. raised its stake in Aris Mining by 27.4% in the first quarter. Sprott Inc. now owns 52,134 shares of the company's stock worth $242,000 after buying an additional 11,210 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new position in Aris Mining in the first quarter worth approximately $284,000. 35.81% of the stock is owned by institutional investors.

Aris Mining Stock Performance

Aris Mining stock traded up $0.32 during midday trading on Friday, hitting $9.51. 10,532,848 shares of the company's stock were exchanged, compared to its average volume of 1,215,328. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -475.50 and a beta of -0.34. The firm's 50 day simple moving average is $7.92 and its 200 day simple moving average is $6.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. Aris Mining Co. has a 12-month low of $3.29 and a 12-month high of $9.95.

Wall Street Analyst Weigh In

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

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.