Aris Mining (NYSE:ARIS) Shares Gap Down - What's Next?

Key Points

• Aris Mining shares fell sharply at Monday’s open, dropping from a prior close of $18.93 to $17.67 before recovering slightly to around $17.94.
• Analyst sentiment remains mixed: Zacks Research downgraded the stock to “strong sell,” while Weiss Ratings upgraded it to “buy.” Overall, MarketBeat reports a “Moderate Buy” consensus from three Buy ratings and one Sell rating.
• Aris Mining recently exceeded quarterly earnings expectations, reporting $0.47 per share versus the $0.39 consensus estimate on $330.23 million in revenue. Institutional investors own approximately 39.71% of the company.

Aris Mining Co. (NYSE:ARIS - Get Free Report)'s stock price gapped down before the market opened on Monday. The stock had previously closed at $18.93, but opened at $17.67. Aris Mining shares last traded at $17.9380, with a volume of 302,439 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ARIS shares. Zacks Research cut shares of Aris Mining from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Aris Mining from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 18th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".

Aris Mining Stock Performance

The company has a market cap of $3.59 billion, a PE ratio of 12.64 and a beta of -0.06. The company has a current ratio of 1.91, a quick ratio of 1.68 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $17.94 and a 200-day moving average of $17.64.

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, topping the consensus estimate of $0.39 by $0.08. The business 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%. Equities research analysts anticipate that Aris Mining Co. will post 2.28 earnings per share for the current fiscal year.

Institutional Trading of Aris Mining

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARIS. Van ECK Associates Corp purchased a new position in Aris Mining during the 2nd quarter valued at $225,425,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Aris Mining in the 1st quarter worth about $97,429,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Aris Mining during the 2nd quarter valued at about $89,137,000. Bank of America Corp DE bought a new stake in shares of Aris Mining during the 1st quarter valued at about $33,528,000. Finally, Amundi purchased a new position in shares of Aris Mining during the first quarter valued at about $32,743,000. Hedge funds and other institutional investors own 39.71% of the company's stock.

Aris Mining Company Profile

Aris Mining Corporation is a gold mining company focused on the exploration, development and operation of mineral properties in Colombia. The company produces gold and associated silver through its underground and processing operations, with a strategy centered on expanding production, extending mine lives and advancing exploration opportunities in established mining districts.

Aris Mining's principal assets include the Segovia Operations in Antioquia, Colombia, a long-running high-grade underground mining complex, and the Marmato Mining Complex in Caldas, Colombia.

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