Goldman Sachs Group Inc. Increases Stock Holdings in 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 position in shares of Aris Mining Co. (NYSE:ARMN - Free Report) by 31.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 706,876 shares of the company's stock after purchasing an additional 167,212 shares during the period. Goldman Sachs Group Inc. owned 0.39% of Aris Mining worth $3,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ARMN. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Aris Mining in the 1st quarter valued at approximately $116,000. Mackenzie Financial Corp raised its position in Aris Mining by 4.2% in the fourth quarter. Mackenzie Financial Corp now owns 70,009 shares of the company's stock valued at $245,000 after purchasing an additional 2,790 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Aris Mining in the 4th quarter valued at $234,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Aris Mining during the 4th quarter worth $931,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Aris Mining during the 1st quarter worth $284,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

Aris Mining Price Performance

Shares of ARMN stock traded up $0.48 on Monday, reaching $9.99. 1,636,280 shares of the company were exchanged, compared to its average volume of 1,217,491. Aris Mining Co. has a 1 year low of $3.29 and a 1 year high of $9.99. 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 business has a 50-day moving average price of $7.97 and a 200 day moving average price of $6.54. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -499.50 and a beta of -0.34.

Analysts Set New Price Targets

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

Aris Mining Company 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.