MMCAP International Inc. SPC Lowers Stock Position in Aris Mining Co. $ARIS

MMCAP International Inc. SPC decreased its stake in Aris Mining Co. (NYSE:ARIS) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,804,061 shares of the company’s stock after selling 2,632,821 shares during the period. Aris Mining accounts for about 22.8% of MMCAP International Inc. SPC’s holdings, making the stock its biggest position. MMCAP International Inc. SPC owned about 6.72% of Aris Mining worth $224,438,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Aris Mining in the fourth quarter worth about $37,000. PNC Financial Services Group Inc. bought a new stake in Aris Mining in the fourth quarter worth about $45,000. Banque Cantonale Vaudoise bought a new stake in Aris Mining in the third quarter worth about $93,000. Insigneo Advisory Services LLC bought a new stake in Aris Mining in the third quarter worth about $98,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in Aris Mining by 51.3% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 11,800 shares of the company’s stock worth $116,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 39.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ARIS. Zacks Research lowered shares of Aris Mining from a “hold” rating to a “strong sell” rating in a research report on Monday, May 18th. Weiss Ratings raised shares of Aris Mining from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.00.

Aris Mining Price Performance

ARIS opened at $17.65 on Wednesday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of 21.01 and a beta of -0.35. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $18.71 and a 200-day moving average price of $17.36. Aris Mining Co. has a twelve month low of $6.24 and a twelve month high of $23.29.

Aris Mining (NYSE:ARIS) last posted its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.05). The business had revenue of $372.48 million during the quarter. Aris Mining had a return on equity of 20.97% and a net margin of 15.19%. Equities analysts expect that Aris Mining Co. will post 2.62 EPS for the current year.

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.