Aris Mining (NYSE:ARMN) Hits New 12-Month High – Still a Buy?

Shares of Aris Mining Co. (NYSE:ARMN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.73 and last traded at $14.6430, with a volume of 327979 shares. The stock had previously closed at $14.35.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARMN shares. Zacks Research upgraded Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Canaccord Genuity Group lifted their price objective on shares of Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $17.00.

Aris Mining Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The firm’s fifty day moving average price is $11.24 and its 200 day moving average price is $8.88. The firm has a market capitalization of $2.89 billion, a PE ratio of -722.15 and a beta of -0.51.

Institutional Trading of Aris Mining

Hedge funds have recently modified their holdings of the company. MMCAP International Inc. SPC boosted its holdings in Aris Mining by 45.1% during the third quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after purchasing an additional 5,112,295 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Aris Mining during the 2nd quarter worth approximately $32,173,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Aris Mining by 152.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock valued at $41,228,000 after purchasing an additional 2,542,740 shares during the period. Merewether Investment Management LP acquired a new stake in shares of Aris Mining in the 3rd quarter valued at approximately $18,748,000. Finally, Amundi grew its position in shares of Aris Mining by 3,670.1% in the 2nd quarter. Amundi now owns 1,885,031 shares of the company’s stock valued at $12,969,000 after purchasing an additional 1,835,031 shares during the period. Institutional investors own 35.81% of the company’s stock.

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.