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

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

Wall Street Analysts Forecast Growth

ARIS has been the subject of a number of recent research reports. Zacks Research downgraded Aris Mining from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Weiss Ratings downgraded Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

Aris Mining Stock Up 9.3%

The firm has a 50 day moving average of $17.23 and a 200 day moving average of $17.99. The firm 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 quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.30.

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

Institutional Trading of Aris Mining

Several hedge funds have recently modified their holdings of ARIS. Kestra Advisory Services LLC bought a new position in Aris Mining during the fourth quarter worth $27,000. RMG Wealth Management LLC acquired a new stake in Aris Mining in the first quarter worth $30,000. Global Retirement Partners LLC acquired a new stake in Aris Mining in the fourth quarter worth $37,000. PNC Financial Services Group Inc. bought a new stake in Aris Mining in the first quarter valued at $45,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Aris Mining during the first quarter valued at about $46,000. Institutional investors own 39.71% of the company’s stock.

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.