Russell Investments Group Ltd. Sells 113,094 Shares of Aris Mining Co. $ARMN

Key Points

• Russell Investments Group Ltd. has reduced its stake in Aris Mining Co. by 8.0%, selling 113,094 shares and bringing its total holdings to 1,299,348 shares valued at approximately $6 million.
• Despite the decrease from Russell Investments, several institutional investors, including Connor Clark & Lunn and Deutsche Bank AG, have increased their holdings in Aris Mining in the first quarter.
• Aris Mining's stock opened at $6.87 with a market capitalization of $1.39 billion, and it currently holds an average analyst rating of "Buy".

Russell Investments Group Ltd. trimmed its position in Aris Mining Co. (NYSE:ARMN - Free Report) by 8.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,299,348 shares of the company's stock after selling 113,094 shares during the quarter. Russell Investments Group Ltd. owned about 0.76% of Aris Mining worth $6,004,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARMN. Orion Resource Partners LP purchased a new stake in Aris Mining in the 4th quarter worth approximately $86,000. TD Waterhouse Canada Inc. increased its holdings in Aris Mining by 210,416.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 25,262 shares of the company's stock worth $86,000 after acquiring an additional 25,250 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Aris Mining during the 1st quarter valued at approximately $116,000. Virtu Financial LLC purchased a new stake in Aris Mining during the 1st quarter valued at approximately $117,000. Finally, Raymond James Financial Inc. purchased a new stake in Aris Mining during the 4th quarter valued at approximately $128,000. 35.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARMN. National Bankshares reaffirmed an "outperform" rating on shares of Aris Mining in a report on Wednesday, July 16th. Zacks Research lowered shares of Aris Mining from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Aris Mining Trading Up 8.3%

ARMN traded up $0.61 during trading on Tuesday, reaching $7.95. The company had a trading volume of 2,548,618 shares, compared to its average volume of 1,079,342. The stock has a market cap of $1.61 billion, a P/E ratio of -397.50 and a beta of -0.34. The business has a 50 day simple moving average of $7.09 and a 200-day simple moving average of $5.82. Aris Mining Co. has a 52 week low of $3.29 and a 52 week high of $8.18. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32.

About Aris Mining

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.