Aris Mining (NYSE:ARIS) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Aris Mining (NYSE:ARIS) from a buy rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

ARIS has been the topic of a number of other research reports. Zacks Research upgraded shares of Aris Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings raised shares of Aris Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 18th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Aris Mining currently has a consensus rating of “Moderate Buy”.

Aris Mining Trading Down 2.2%

ARIS opened at $16.95 on Friday. Aris Mining has a fifty-two week low of $8.75 and a fifty-two week high of $23.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.68. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 12.28 and a beta of 0.04. The company’s 50 day moving average price is $18.59 and its two-hundred day moving average price is $17.59.

Aris Mining (NYSE:ARIS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.08. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. The firm had revenue of $330.23 million during the quarter. As a group, research analysts predict that Aris Mining will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Aris Mining

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new stake in Aris Mining in the second quarter valued at approximately $225,425,000. Arrowstreet Capital Limited Partnership bought a new position in Aris Mining during the 1st quarter worth approximately $97,429,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aris Mining during the 2nd quarter worth approximately $89,137,000. Bank of America Corp DE bought a new position in Aris Mining during the 1st quarter worth approximately $33,528,000. Finally, Amundi bought a new position in Aris Mining during the 1st quarter worth approximately $32,743,000. 39.71% of the stock is currently owned by institutional investors.

About Aris Mining

Aris Mining Corporation is a Canadian gold mining company focused on the exploration, development, and operation of gold properties in the Americas. The company’s activities include underground and open-pit mining, mineral processing, exploration, project development, and related infrastructure and operational services.

Aris Mining’s principal assets are in Colombia, including the Segovia Operations in Antioquia, a high-grade underground mining and processing complex, and the Marmato Operations in Caldas.