Aris Mining (NYSE:ARMN) Hits New 52-Week High – Here’s What Happened

Aris Mining Co. (NYSE:ARMN)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $21.33 and last traded at $20.9230, with a volume of 535569 shares. The stock had previously closed at $20.26.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARMN. National Bankshares reiterated an “outperform” rating on shares of Aris Mining in a research note on Monday, November 3rd. Zacks Research downgraded shares of Aris Mining from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Aris Mining Trading Up 2.2%

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 stock has a market cap of $4.40 billion, a price-to-earnings ratio of -1,070.50 and a beta of -0.55. The company has a fifty day simple moving average of $15.99 and a 200-day simple moving average of $11.43.

Hedge Funds Weigh In On Aris Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in shares of Aris Mining by 2.7% in the third quarter. Public Employees Retirement System of Ohio now owns 55,647 shares of the company’s stock worth $546,000 after purchasing an additional 1,441 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Aris Mining by 16.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock valued at $83,000 after buying an additional 1,780 shares during the period. Cetera Investment Advisers lifted its position in Aris Mining by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after buying an additional 2,135 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Aris Mining by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock valued at $599,000 after buying an additional 2,617 shares during the period. Finally, Triasima Portfolio Management inc. increased its position in Aris Mining by 1.6% in the 3rd quarter. Triasima Portfolio Management inc. now owns 177,659 shares of the company’s stock worth $1,742,000 after purchasing an additional 2,752 shares during the last quarter. 35.81% of the stock is currently 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.