Aris Mining (NYSE:ARMN) Reaches New 12-Month High – Here’s Why

Shares of Aris Mining Co. (NYSE:ARMN) hit a new 52-week high on Wednesday . The stock traded as high as $17.07 and last traded at $17.0640, with a volume of 761775 shares trading hands. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ARMN shares. National Bankshares restated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a report on Thursday, October 30th. Finally, Zacks Research downgraded Aris Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Aris Mining Stock Performance

The company has a market capitalization of $3.46 billion, a PE ratio of -846.75 and a beta of -0.55. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average is $13.57 and its two-hundred day moving average is $10.20.

Institutional Investors Weigh In On Aris Mining

Several institutional investors have recently modified their holdings of ARMN. GWN Securities Inc. purchased a new position in Aris Mining in the 2nd quarter worth about $76,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Aris Mining by 16.9% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock worth $83,000 after acquiring an additional 1,780 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Aris Mining during the third quarter valued at approximately $93,000. Insigneo Advisory Services LLC bought a new position in Aris Mining during the third quarter valued at approximately $98,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Aris Mining by 51.3% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 11,800 shares of the company’s stock valued at $116,000 after purchasing an additional 4,000 shares during the period. 35.81% of the stock is owned by hedge funds and other institutional investors.

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.