Aris Mining (NYSE:ARIS) Announces Quarterly Earnings Results

Aris Mining (NYSE:ARIS) announced its quarterly earnings data on Wednesday. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.17), Zacks reports. The company had revenue of $308.57 million during the quarter. Aris Mining had a net margin of 8.45% and a return on equity of 16.18%.

Aris Mining Trading Down 1.6%

Shares of NYSE ARIS traded down $0.30 during mid-day trading on Friday, reaching $18.96. 397,047 shares of the company’s stock were exchanged, compared to its average volume of 1,713,457. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 49.90 and a beta of -0.74. Aris Mining has a 52-week low of $4.22 and a 52-week high of $23.29. The company’s 50-day moving average is $18.80 and its 200-day moving average is $14.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.16 and a current ratio of 2.42.

Analyst Ratings Changes

ARIS has been the topic of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Weiss Ratings assumed coverage on Aris Mining in a research report on Wednesday. They issued a “hold (c+)” rating for the company. Finally, Zacks Research raised Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ARIS. Arrowstreet Capital Limited Partnership grew its stake in shares of Aris Mining by 28.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,418,929 shares of the company’s stock worth $87,907,000 after purchasing an additional 1,211,708 shares in the last quarter. FIL Ltd purchased a new stake in Aris Mining during the 4th quarter worth about $62,900,000. JPMorgan Chase & Co. boosted its position in shares of Aris Mining by 87.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,240,826 shares of the company’s stock worth $52,599,000 after acquiring an additional 1,510,919 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Aris Mining by 87.4% during the 4th quarter. Bank of Montreal Can now owns 2,273,031 shares of the company’s stock worth $36,865,000 after acquiring an additional 1,060,049 shares in the last quarter. Finally, Amundi increased its holdings in shares of Aris Mining by 15.5% in the 3rd quarter. Amundi now owns 2,176,647 shares of the company’s stock valued at $22,659,000 after acquiring an additional 291,616 shares during the last quarter. Hedge funds and other institutional investors own 39.71% of the company’s stock.

About Aris Mining

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.