Aris Mining (NYSE:ARIS) Shares Up 10.2% – Here’s What Happened

Aris Mining Co. (NYSE:ARIS)’s share price rose 10.2% during trading on Thursday . The company traded as high as $16.10 and last traded at $16.1050. 250,266 shares were traded during trading, a decline of 85% from the average daily volume of 1,701,609 shares. The stock had previously closed at $14.62.

Analyst Ratings Changes

Several analysts recently weighed in on ARIS shares. Zacks Research lowered Aris Mining from a “hold” rating to a “strong sell” rating in a research note on Monday, May 18th. Weiss Ratings downgraded shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

Aris Mining Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 1.78. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 19.04 and a beta of -0.21. The company has a fifty day moving average of $17.23 and a two-hundred day moving average of $17.99.

Aris Mining (NYSE:ARIS) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). The firm had revenue of $372.48 million during the quarter. Aris Mining had a return on equity of 20.97% and a net margin of 15.19%. Equities research analysts anticipate that Aris Mining Co. will post 2.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new position in Aris Mining in the 4th quarter valued at approximately $27,000. RMG Wealth Management LLC bought a new stake in Aris Mining during the 1st quarter worth approximately $30,000. Global Retirement Partners LLC bought a new stake in Aris Mining during the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. acquired a new position in Aris Mining in the 1st quarter valued at approximately $45,000. Finally, Geneos Wealth Management Inc. acquired a new position in Aris Mining in the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds 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.