The Manufacturers Life Insurance Company Takes Position in Aris Mining Co. $ARIS

Key Points

• The Manufacturers Life Insurance Company bought 184,401 shares of Aris Mining worth approximately $2.74 million, representing a 0.09% stake. Institutional investors collectively own 39.71% of the company.
• Aris Mining shares rose 4.3% to $19.67, while the company reported quarterly EPS of $0.47, beating analyst expectations of $0.39, on revenue of $330.23 million.
• Analyst sentiment remains mixed: Aris Mining has an average rating of “Hold” and an average price target of $17, with recent downgrades from Weiss Ratings and Zacks Research.

The Manufacturers Life Insurance Company purchased a new position in Aris Mining Co. (NYSE:ARIS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 184,401 shares of the company's stock, valued at approximately $2,744,000. The Manufacturers Life Insurance Company owned 0.09% of Aris Mining as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE bought a new position in Aris Mining in the 1st quarter valued at $33,528,000. Cetera Investment Advisers purchased a new stake in Aris Mining in the first quarter worth $1,770,000. Cibc World Market Inc. bought a new stake in shares of Aris Mining during the second quarter worth $4,721,000. Deutsche Bank AG bought a new stake in shares of Aris Mining during the second quarter worth $21,321,000. Finally, U S Global Investors Inc. purchased a new stake in shares of Aris Mining during the first quarter valued at $6,319,000. 39.71% of the stock is owned by institutional investors.

Aris Mining Stock Up 4.3%

Shares of NYSE:ARIS opened at $19.67 on Thursday. The business's 50 day moving average is $16.39 and its 200 day moving average is $17.62. The stock has a market cap of $4.06 billion, a P/E ratio of 14.26 and a beta of -0.07. Aris Mining Co. has a 52-week low of $8.75 and a 52-week high of $23.29. The company has a quick ratio of 1.68, a current ratio of 1.91 and a debt-to-equity ratio of 0.26.

Aris Mining (NYSE:ARIS - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.08. The firm had revenue of $330.23 million during the quarter. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. Sell-side analysts predict that Aris Mining Co. will post 2.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings cut shares of Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, August 20th. Zacks Research lowered shares of Aris Mining from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $17.00.

About Aris Mining

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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