Thomist Capital Management LP Invests $26.11 Million in Aris Mining Co. $ARIS

Thomist Capital Management LP acquired a new stake in Aris Mining Co. (NYSE:ARIS) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,751,221 shares of the company’s stock, valued at approximately $26,111,000. Aris Mining comprises approximately 8.3% of Thomist Capital Management LP’s portfolio, making the stock its 2nd largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Aris Mining during the second quarter worth about $89,137,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Aris Mining in the first quarter valued at about $97,429,000. FIL Ltd acquired a new stake in shares of Aris Mining in the fourth quarter valued at approximately $62,900,000. Merewether Investment Management LP acquired a new stake in shares of Aris Mining in the third quarter valued at approximately $18,748,000. Finally, Amundi increased its stake in shares of Aris Mining by 3,670.1% during the 2nd quarter. Amundi now owns 1,885,031 shares of the company’s stock worth $12,969,000 after purchasing an additional 1,835,031 shares in the last quarter. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

Aris Mining Stock Performance

Shares of ARIS stock opened at $20.76 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.04 and a beta of -0.14. Aris Mining Co. has a one year low of $7.08 and a one year high of $23.29. The company has a 50 day moving average price of $15.84 and a 200 day moving average price of $17.56.

Aris Mining (NYSE:ARIS) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The company had revenue of $330.23 million for the quarter. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. Sell-side analysts anticipate that Aris Mining Co. will post 2.28 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on ARIS. Weiss Ratings downgraded Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Zacks Research cut Aris Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

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.