Ruffer LLP Sells 427,500 Shares of Aris Mining Co. $ARMN

Key Points

• Ruffer LLP reduced its stake in Aris Mining Co. by 7.5%, selling 427,500 shares, and now holds 5,239,248 shares, representing 1.6% of its portfolio.
• Several institutional investors modified their holdings during the 2nd quarter, with Goldman Sachs increasing its stake by 31% and MIRAE ASSET GLOBAL ETFS boosting theirs by 96.4%.
• Analysts have mixed ratings on Aris Mining, with a current average rating of "Moderate Buy" and a target price increase from $16.50 to $17.00 by Canaccord Genuity.

Ruffer LLP lessened its holdings in shares of Aris Mining Co. (NYSE:ARMN - Free Report) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,239,248 shares of the company's stock after selling 427,500 shares during the quarter. Aris Mining makes up 1.6% of Ruffer LLP's portfolio, making the stock its 14th largest holding. Ruffer LLP owned 2.89% of Aris Mining worth $35,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC purchased a new position in shares of Aris Mining during the 2nd quarter worth $370,000. Goldman Sachs Group Inc. boosted its stake in shares of Aris Mining by 31.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company's stock worth $3,280,000 after acquiring an additional 167,212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Aris Mining by 96.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company's stock worth $2,410,000 after acquiring an additional 256,022 shares during the last quarter. PDT Partners LLC purchased a new position in shares of Aris Mining during the 1st quarter worth $618,000. Finally, Sprott Inc. boosted its stake in shares of Aris Mining by 27.4% during the 1st quarter. Sprott Inc. now owns 52,134 shares of the company's stock worth $242,000 after acquiring an additional 11,210 shares during the last quarter. Hedge funds and other institutional investors own 35.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Aris Mining Stock Down 0.6%

Shares of ARMN stock opened at $9.36 on Thursday. The stock has a market cap of $1.89 billion, a P/E ratio of -468.00 and a beta of -0.34. Aris Mining Co. has a 52 week low of $3.29 and a 52 week high of $10.07. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. The company's fifty day simple moving average is $8.07 and its two-hundred day simple moving average is $6.58.

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.

Want to see what other hedge funds are holding ARMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aris Mining Co. (NYSE:ARMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.