Van ECK Associates Corp Invests $225.43 Million in Aris Mining Co. $ARIS

Key Points

• Van ECK Associates Corp. acquired 15.1 million Aris Mining shares worth approximately $225.4 million, representing about 7.32% of the company.
• Aris Mining reported quarterly EPS of $0.47, beating the $0.39 consensus estimate, on revenue of $330.2 million. The company posted a 22.43% net margin and 22.82% return on equity.
• Analyst sentiment remains mixed, with three Buy ratings, one Hold, and one Sell; the consensus rating is Hold with a $17 target price, below the reported share price of $20.32.

Van ECK Associates Corp bought a new stake in Aris Mining Co. (NYSE:ARIS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,117,127 shares of the company's stock, valued at approximately $225,425,000. Van ECK Associates Corp owned about 7.32% of Aris Mining at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ARIS. Coastal Bridge Advisors LLC purchased a new position in Aris Mining during the second quarter worth about $373,000. Public Employees Retirement System of Ohio purchased a new stake in Aris Mining in the 2nd quarter valued at about $919,000. Capstone Investment Advisors LLC purchased a new stake in Aris Mining in the 2nd quarter valued at about $262,000. Bank of America Corp DE bought a new position in shares of Aris Mining during the 2nd quarter worth approximately $14,340,000. Finally, Caisse de depot et placement du Quebec bought a new position in shares of Aris Mining during the 2nd quarter worth approximately $3,062,000. 39.71% of the stock is owned by institutional investors.

Aris Mining Stock Performance

Shares of ARIS stock opened at $20.32 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 14.72 and a beta of -0.14. Aris Mining Co. has a 52 week low of $8.10 and a 52 week high of $23.29. The firm's 50-day simple moving average is $16.16 and its two-hundred day simple moving average is $17.63.

Aris Mining (NYSE:ARIS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast that Aris Mining Co. will post 2.28 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ARIS shares. Weiss Ratings downgraded Aris Mining from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, August 20th. Zacks Research lowered 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 assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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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