Q1 2024 Earnings Forecast for Aris Mining Co. (NYSE:ARMN) Issued By Cormark

Aris Mining Co. (NYSE:ARMN) – Cormark lowered their Q1 2024 EPS estimates for Aris Mining in a note issued to investors on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.17. The consensus estimate for Aris Mining’s current full-year earnings is $0.62 per share. Cormark also issued estimates for Aris Mining’s FY2024 earnings at $0.64 EPS and FY2025 earnings at $1.31 EPS.

Aris Mining (NYSE:ARMN) last released its quarterly earnings results on Wednesday, March 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Aris Mining had a net margin of 2.09% and a return on equity of 8.73%. The firm had revenue of $124.98 million for the quarter.

Separately, TheStreet cut Aris Mining from a “c” rating to a “d+” rating in a research note on Monday, March 18th.

Aris Mining Stock Performance

NYSE:ARMN opened at $3.94 on Thursday. Aris Mining has a 1-year low of $2.16 and a 1-year high of $3.97. The stock has a market cap of $557.19 million and a P/E ratio of 197.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.15 and a quick ratio of 1.86. The firm has a 50-day moving average of $3.29 and a two-hundred day moving average of $3.02.

Institutional Trading of Aris Mining

Hedge funds have recently made changes to their positions in the stock. Citadel Advisors LLC acquired a new stake in shares of Aris Mining in the 4th quarter valued at about $56,000. Baader Bank Aktiengesellschaft acquired a new stake in Aris Mining during the fourth quarter valued at approximately $131,000. Mackenzie Financial Corp acquired a new stake in Aris Mining during the fourth quarter valued at approximately $632,000. International Assets Investment Management LLC bought a new position in Aris Mining during the 4th quarter worth approximately $380,000. Finally, American Century Companies Inc. acquired a new position in shares of Aris Mining in the 3rd quarter worth approximately $385,000. Institutional investors and hedge funds own 35.81% of the company’s stock.

About Aris Mining

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.