Zacks Research Downgrades Aris Mining (NYSE:ARIS) to Strong Sell

Aris Mining (NYSE:ARIS) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Aris Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Aris Mining Trading Down 6.1%

Shares of NYSE:ARIS opened at $17.04 on Monday. Aris Mining has a 52-week low of $5.90 and a 52-week high of $23.29. The company has a market capitalization of $3.52 billion, a P/E ratio of 20.28 and a beta of -0.35. The company has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $17.10. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 1.78.

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 the consensus estimate of $0.62 by ($0.05). Aris Mining had a net margin of 15.19% and a return on equity of 20.97%. The firm had revenue of $372.48 million during the quarter. Sell-side analysts forecast that Aris Mining will post 2.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Aris Mining by 96.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company’s stock valued at $2,410,000 after acquiring an additional 256,022 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Aris Mining by 31.0% during the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock worth $3,280,000 after purchasing an additional 167,212 shares during the period. Geode Capital Management LLC increased its holdings in shares of Aris Mining by 3.0% during the second quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after purchasing an additional 2,617 shares during the period. Cetera Investment Advisers increased its holdings in shares of Aris Mining by 2.5% during the second quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after purchasing an additional 2,135 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Aris Mining during the second quarter worth approximately $548,000. 39.71% of the stock is owned by institutional investors.

Aris Mining Company Profile

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.