Thomist Capital Management LP Makes New $26.11 Million Investment in Aris Mining Co. $ARIS

Key Points

• Thomist Capital Management acquired 1.75 million Aris Mining shares worth approximately $26.1 million, making the position its second-largest holding and representing about 8.3% of its portfolio.
• Analyst sentiment is mixed: Aris Mining has an overall “Hold” rating, with recent downgrades from Weiss Ratings and Zacks Research. The average analyst price target is $17, below the reported share price of $20.76.
• Aris Mining exceeded quarterly earnings expectations, reporting $0.47 EPS versus the $0.39 consensus and $330.23 million in revenue. Institutional investors and hedge funds collectively own 39.71% of the company.

Thomist Capital Management LP bought a new stake in Aris Mining Co. (NYSE:ARIS - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,751,221 shares of the company's stock, valued at approximately $26,111,000. Aris Mining accounts for approximately 8.3% of Thomist Capital Management LP's investment portfolio, making the stock its 2nd largest holding. Thomist Capital Management LP owned approximately 0.85% of Aris Mining at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Aris Mining during the fourth quarter worth $27,000. RMG Wealth Management LLC acquired a new position in Aris Mining in the 1st quarter valued at $30,000. Global Retirement Partners LLC acquired a new position in Aris Mining in the 4th quarter valued at $37,000. PNC Financial Services Group Inc. purchased a new position in Aris Mining during the 1st quarter worth $45,000. Finally, Geneos Wealth Management Inc. purchased a new position in Aris Mining during the 1st quarter worth $46,000. Institutional investors and hedge funds own 39.71% of the company's stock.

Analyst Ratings Changes

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

Aris Mining Stock Down 0.5%

Shares of NYSE ARIS opened at $20.76 on Tuesday. 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 Co. has a 52 week low of $7.08 and a 52 week high of $23.29. The firm has a 50-day moving average price of $15.84 and a 200 day moving average price of $17.56. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.04 and a beta of -0.14.

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

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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