Pictet Asset Management Holding SA Sells 727,122 Shares of Aris Mining Co. $ARIS

Key Points

• Pictet Asset Management cut its Aris Mining stake by 68.1%, selling 727,122 shares and leaving 339,922 shares (about 0.17% of the company) valued at $5.52 million at quarter-end.
• Other institutional moves included TT International initiating a roughly $12.9 million stake and Apis Capital increasing its position to 2.514 million shares (about $24.64 million); overall institutional ownership stands near 39.71%.
• Analysts are largely positive—Zacks and Weiss issued upgrades and BMO reiterated an outperform—giving an average rating of Buy and a $17 target, while ARIS trades around $17.86 after a recent quarterly EPS miss ($0.37 vs. $0.54 consensus).

Pictet Asset Management Holding SA lessened its position in shares of Aris Mining Co. (NYSE:ARIS - Free Report) by 68.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 339,922 shares of the company's stock after selling 727,122 shares during the period. Pictet Asset Management Holding SA owned approximately 0.17% of Aris Mining worth $5,520,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ARIS. TT International Asset Management LTD bought a new stake in shares of Aris Mining in the fourth quarter valued at approximately $12,864,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Aris Mining in the third quarter valued at approximately $1,783,000. CIBC Asset Management Inc bought a new stake in shares of Aris Mining in the third quarter valued at approximately $1,648,000. Tudor Investment Corp ET AL bought a new stake in shares of Aris Mining in the third quarter valued at approximately $10,038,000. Finally, Apis Capital Advisors LLC boosted its stake in shares of Aris Mining by 33.9% in the third quarter. Apis Capital Advisors LLC now owns 2,514,000 shares of the company's stock valued at $24,642,000 after buying an additional 636,000 shares during the period. Institutional investors own 39.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ARIS. Zacks Research upgraded Aris Mining from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 28th. BMO Capital Markets reiterated an "outperform" rating on shares of Aris Mining in a research note on Friday, January 23rd. Finally, Weiss Ratings upgraded Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $17.00.

Aris Mining Stock Down 0.1%

Shares of ARIS opened at $17.86 on Monday. Aris Mining Co. has a one year low of $5.27 and a one year high of $23.29. The company has a market cap of $3.69 billion, a P/E ratio of 47.00 and a beta of -0.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.76 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $18.95 and a two-hundred day simple moving average of $16.40.

Aris Mining (NYSE:ARIS - Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17). Aris Mining had a net margin of 8.45% and a return on equity of 15.59%. The firm had revenue of $308.57 million for the quarter. Research analysts forecast that Aris Mining Co. will post 2.76 EPS for the current fiscal year.

Aris Mining Profile

Aris Mining Corp, headquartered in Vancouver, British Columbia, is a mineral exploration and development company focused on advancing a diversified portfolio of precious metal and lithium assets. Listed on the New York Stock Exchange under the ticker ARMN, the company pursues a disciplined strategy of resource definition and project development to deliver value for its shareholders.

The firm’s principal assets include several high-grade gold projects across multiple continents and a strategic lithium property in the United States.

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