Aris Mining (NYSE:ARIS) Downgraded by Zacks Research to Strong Sell

Aris Mining (NYSE:ARIS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings lowered Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Aris Mining Price Performance

Shares of NYSE ARIS opened at $15.79 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average price is $15.32 and its two-hundred day moving average price is $17.64. The company has a market cap of $3.26 billion, a PE ratio of 11.44 and a beta of -0.14. Aris Mining has a twelve month low of $6.65 and a twelve month high of $23.29.

Aris Mining (NYSE:ARIS) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%.The company had revenue of $330.23 million during the quarter. On average, analysts predict that Aris Mining will post 2.28 EPS for the current year.

Institutional Trading of Aris Mining

Hedge funds and other institutional investors have recently modified their holdings of the stock. Alberta Investment Management Corp acquired a new stake in Aris Mining during the second quarter worth approximately $821,000. Bank of New York Mellon Corp bought a new stake in shares of Aris Mining during the 2nd quarter valued at $458,000. State of Wyoming bought a new position in Aris Mining in the 2nd quarter valued at about $129,000. FNY Investment Advisers LLC lifted its stake in Aris Mining by 15.0% during the second quarter. FNY Investment Advisers LLC now owns 11,500 shares of the company’s stock worth $171,000 after purchasing an additional 1,500 shares during the last quarter. Finally, PVG Asset Management Corp bought a new stake in shares of Aris Mining during the 1st quarter worth $2,283,000. 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.