JPMorgan Chase & Co. Trims Stock Position in Aris Mining Co. $ARMN

JPMorgan Chase & Co. decreased its stake in Aris Mining Co. (NYSE:ARMN) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,729,907 shares of the company’s stock after selling 86,091 shares during the period. JPMorgan Chase & Co. owned 0.85% of Aris Mining worth $16,953,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARMN. Sheets Smith Investment Management purchased a new stake in shares of Aris Mining in the 3rd quarter valued at about $1,351,000. Hillsdale Investment Management Inc. purchased a new position in Aris Mining during the 2nd quarter worth approximately $32,173,000. Y Intercept Hong Kong Ltd acquired a new position in Aris Mining during the third quarter worth approximately $1,783,000. Northwest & Ethical Investments L.P. purchased a new stake in Aris Mining in the second quarter valued at approximately $878,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Aris Mining in the third quarter valued at approximately $1,648,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

Aris Mining Stock Up 3.9%

Shares of Aris Mining stock opened at $19.26 on Wednesday. Aris Mining Co. has a one year low of $3.57 and a one year high of $21.98. The company has a market cap of $3.96 billion, a P/E ratio of -963.05 and a beta of -0.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The firm has a fifty day moving average of $18.40 and a two-hundred day moving average of $13.53.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Zacks Research upgraded shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, Aris Mining currently has a consensus rating of “Buy” and a consensus target price of $17.00.

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.