Aris Mining (NYSE:ARIS) Shares Gap Up – What’s Next?

Aris Mining Co. (NYSE:ARIS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $17.59, but opened at $18.80. Aris Mining shares last traded at $19.6310, with a volume of 188,698 shares traded.

Wall Street Analyst Weigh In

ARIS has been the topic of a number of analyst reports. Weiss Ratings upgraded Aris Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Zacks Research downgraded Aris Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Aris Mining currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Aris Mining Trading Up 12.4%

The firm’s 50 day moving average is $15.46 and its 200 day moving average is $17.51. 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 company has a market cap of $4.08 billion, a PE ratio of 14.28 and a beta of -0.14.

Aris Mining (NYSE:ARIS) last posted its 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. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. The business had revenue of $330.23 million for the quarter. On average, equities analysts anticipate that Aris Mining Co. will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On Aris Mining

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Aris Mining in the 2nd quarter worth about $89,137,000. Arrowstreet Capital Limited Partnership raised its stake in Aris Mining by 28.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,418,929 shares of the company’s stock valued at $87,907,000 after purchasing an additional 1,211,708 shares in the last quarter. FIL Ltd purchased a new stake in Aris Mining in the fourth quarter valued at approximately $62,900,000. JPMorgan Chase & Co. lifted its position in Aris Mining by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,240,826 shares of the company’s stock valued at $52,599,000 after purchasing an additional 1,510,919 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Aris Mining by 87.4% during the fourth quarter. Bank of Montreal Can now owns 2,273,031 shares of the company’s stock valued at $36,865,000 after purchasing an additional 1,060,049 shares during the last quarter. Institutional investors own 39.71% 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.