Principal Financial Group Inc. Purchases New Holdings in Aris Mining Co. $ARIS

Key Points

• Principal Financial Group disclosed a new first-quarter stake in Aris Mining, buying 1,503,900 shares valued at about $27.8 million and representing roughly 0.73% of the company.
• Several other institutional investors also added to or initiated positions in ARIS, and institutional ownership now stands at 39.71% of the stock.
• Aris Mining shares were down slightly, with the stock opening at $13.92; the company recently missed earnings estimates, and analysts currently rate it a Moderate Buy with a $17.00 average price target.

Principal Financial Group Inc. purchased a new stake in Aris Mining Co. (NYSE:ARIS - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,503,900 shares of the company's stock, valued at approximately $27,835,000. Principal Financial Group Inc. owned approximately 0.73% of Aris Mining as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARIS. Kestra Advisory Services LLC acquired a new stake in shares of Aris Mining in the 4th quarter valued at approximately $27,000. Global Retirement Partners LLC acquired a new position in Aris Mining during the fourth quarter worth $37,000. PNC Financial Services Group Inc. acquired a new position in Aris Mining during the fourth quarter worth $45,000. Banque Cantonale Vaudoise bought a new stake in Aris Mining during the third quarter worth $93,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Aris Mining by 51.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 11,800 shares of the company's stock worth $116,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 39.71% of the company's stock.

Aris Mining Trading Down 0.2%

Shares of ARIS stock opened at $13.92 on Monday. Aris Mining Co. has a 12-month low of $6.65 and a 12-month high of $23.29. The company has a market capitalization of $2.87 billion, a PE ratio of 16.57 and a beta of -0.22. The firm has a 50 day moving average price of $16.32 and a two-hundred day moving average price of $17.88. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.30.

Aris Mining (NYSE:ARIS - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.05). The firm had revenue of $372.48 million during the quarter. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%. As a group, analysts predict that Aris Mining Co. will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARIS shares. Zacks Research raised shares of Aris Mining from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, July 8th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the 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 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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