Aris Mining (NYSE:ARIS) Shares Gap Down – What’s Next?

Aris Mining Co. (NYSE:ARIS)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $15.76, but opened at $14.88. Aris Mining shares last traded at $15.1890, with a volume of 210,200 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARIS shares. Zacks Research downgraded Aris Mining from a “hold” rating to a “strong sell” rating in a report on Monday, May 18th. Weiss Ratings cut Aris Mining from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 4th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.00.

Aris Mining Stock Down 5.0%

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.78 and a quick ratio of 1.62. The firm’s 50-day moving average is $17.94 and its 200 day moving average is $17.97. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 17.78 and a beta of -0.39.

Aris Mining (NYSE:ARIS) last announced its quarterly 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 net margin of 15.19% and a return on equity of 20.97%. The company had revenue of $372.48 million during the quarter. Sell-side analysts anticipate that Aris Mining Co. will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aris Mining

Institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its stake in 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 acquiring an additional 1,211,708 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Aris Mining by 18.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock valued at $38,722,000 after purchasing an additional 602,941 shares in the last quarter. FIL Ltd acquired a new position in shares of Aris Mining in the 4th quarter valued at about $62,900,000. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 1,510,919 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Aris Mining by 75.4% during the 3rd quarter. American Century Companies Inc. now owns 2,776,448 shares of the company’s stock worth $27,211,000 after purchasing an additional 1,193,444 shares during the period. Hedge funds and other 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.