Aris Mining Co. (NYSE:ARMN) Sees Large Increase in Short Interest

Aris Mining Co. (NYSE:ARMN) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,150,000 shares, a growth of 46.3% from the September 30th total of 1,470,000 shares. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.2% of the shares of the company are short sold. Currently, 1.2% of the shares of the company are short sold. Based on an average daily volume of 1,740,000 shares, the days-to-cover ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARMN. BMO Capital Markets restated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. Zacks Research upgraded Aris Mining from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. National Bankshares reiterated an “outperform” rating on shares of Aris Mining in a research report on Monday. Finally, Canaccord Genuity Group increased their price objective on Aris Mining from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Aris Mining in the first quarter valued at $76,000. GWN Securities Inc. purchased a new position in shares of Aris Mining in the second quarter valued at $76,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Aris Mining by 16.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock valued at $83,000 after buying an additional 1,780 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Aris Mining in the first quarter valued at $116,000. Finally, Virtu Financial LLC purchased a new position in shares of Aris Mining in the first quarter valued at $117,000. Hedge funds and other institutional investors own 35.81% of the company’s stock.

Aris Mining Trading Down 5.9%

NYSE:ARMN opened at $9.60 on Wednesday. Aris Mining has a 1 year low of $3.29 and a 1 year high of $11.24. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -480.00 and a beta of -0.30. The stock has a fifty day moving average price of $9.70 and a two-hundred day moving average price of $7.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45.

Aris Mining Company Profile

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.