PDT Partners LLC Buys New Position in Aris Mining Co. $ARMN

Key Points

• PDT Partners LLC has acquired a new stake in Aris Mining Co., purchasing 133,093 shares valued at approximately $618,000, representing about 0.08% of the company.
• Several institutional investors, including Connor Clark & Lunn and American Century Companies, have significantly increased their holdings in Aris Mining during the first quarter.
• Aris Mining currently has a consensus rating of "Hold" with an average price target of $17.00, despite a recent downgrade to a "strong sell" by Zacks Research.

PDT Partners LLC purchased a new stake in Aris Mining Co. (NYSE:ARMN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 133,093 shares of the company's stock, valued at approximately $618,000. PDT Partners LLC owned about 0.08% of Aris Mining as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Aris Mining in the first quarter valued at about $76,000. Cambridge Investment Research Advisors Inc. bought a new position in Aris Mining in the first quarter valued at about $116,000. Virtu Financial LLC bought a new position in Aris Mining in the first quarter valued at about $117,000. Raymond James Financial Inc. bought a new position in Aris Mining in the fourth quarter valued at about $128,000. Finally, Sprott Inc. boosted its holdings in Aris Mining by 27.4% in the first quarter. Sprott Inc. now owns 52,134 shares of the company's stock valued at $242,000 after acquiring an additional 11,210 shares during the last quarter. Institutional investors own 35.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BMO Capital Markets reissued an "outperform" rating on shares of Aris Mining in a research note on Thursday, September 4th. Zacks Research lowered Aris Mining from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, August 21st. Canaccord Genuity Group increased their target price 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 reissued an "outperform" rating on shares of Aris Mining in a research note on Monday. Three equities research 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 currently has an average rating of "Moderate Buy" and an average target price of $17.00.

Aris Mining Stock Up 2.1%

Shares of NYSE ARMN traded up $0.20 during mid-day trading on Wednesday, reaching $9.58. 485,051 shares of the company's stock were exchanged, compared to its average volume of 1,135,631. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -479.25 and a beta of -0.34. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $7.50 and a 200 day simple moving average of $6.15. Aris Mining Co. has a twelve month low of $3.29 and a twelve month high of $9.69.

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.