Aris Mining (NYSE:ARMN) Raised to “Strong-Buy” at Zacks Research

Aris Mining (NYSE:ARMN) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

ARMN has been the topic of a number of other reports. National Bankshares reissued an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. Canaccord Genuity Group boosted their price target on shares of Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, Aris Mining presently has an average rating of “Buy” and an average target price of $17.00.

Aris Mining Stock Up 1.8%

Aris Mining stock opened at $10.96 on Monday. The stock’s fifty day simple moving average is $9.87 and its 200-day simple moving average is $7.88. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. Aris Mining has a twelve month low of $3.29 and a twelve month high of $11.24. The firm has a market capitalization of $2.22 billion, a P/E ratio of -548.00 and a beta of -0.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers grew its holdings in shares of Aris Mining by 3.1% during the first quarter. Cetera Investment Advisers now owns 86,079 shares of the company’s stock worth $398,000 after buying an additional 2,571 shares during the last quarter. TD Asset Management Inc lifted its position in Aris Mining by 3.0% during the 1st quarter. TD Asset Management Inc now owns 163,437 shares of the company’s stock worth $755,000 after acquiring an additional 4,717 shares during the period. Mackenzie Financial Corp grew its stake in shares of Aris Mining by 9.3% in the 1st quarter. Mackenzie Financial Corp now owns 76,546 shares of the company’s stock valued at $354,000 after purchasing an additional 6,537 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Aris Mining by 6.4% in the first quarter. Alberta Investment Management Corp now owns 1,102,664 shares of the company’s stock valued at $5,095,000 after purchasing an additional 66,614 shares during the period. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Aris Mining in the first quarter valued at approximately $284,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

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.