Aris Mining (NYSE:ARMN) Trading Up 3.9% – Still a Buy?

Aris Mining Co. (NYSE:ARMN) shot up 3.9% during mid-day trading on Friday . The stock traded as high as $19.33 and last traded at $19.2610. 1,744,162 shares changed hands during mid-day trading, a decline of 10% from the average session volume of 1,945,749 shares. The stock had previously closed at $18.53.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. National Bank Financial reiterated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. Finally, Zacks Research upgraded shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $17.00.

Aris Mining Price Performance

The stock has a market cap of $3.96 billion, a PE ratio of -963.05 and a beta of -0.55. The business has a fifty day simple moving average of $17.93 and a two-hundred day simple moving average of $12.86. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Aris Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MMCAP International Inc. SPC boosted its holdings in shares of Aris Mining by 45.1% during the 3rd quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after buying an additional 5,112,295 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Aris Mining by 28.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,418,929 shares of the company’s stock valued at $87,907,000 after acquiring an additional 1,211,708 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Aris Mining during the second quarter worth about $32,173,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Aris Mining by 18.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock worth $38,722,000 after purchasing an additional 602,941 shares during the period. Finally, FIL Ltd purchased a new stake in Aris Mining in the fourth quarter worth about $62,900,000. Hedge funds and other institutional investors own 35.81% of the company’s stock.

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.