Legal & General Group Plc Buys New Position in Aris Mining Co. $ARIS

Legal & General Group Plc purchased a new stake in Aris Mining Co. (NYSE:ARIS) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 519,790 shares of the company’s stock, valued at approximately $7,749,000.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new stake in Aris Mining during the first quarter worth about $3,445,000. Bank of America Corp DE acquired a new position in shares of Aris Mining in the 1st quarter valued at about $33,528,000. Cetera Investment Advisers purchased a new stake in shares of Aris Mining during the 1st quarter worth about $1,770,000. Cibc World Market Inc. purchased a new stake in shares of Aris Mining during the 2nd quarter worth about $4,721,000. Finally, Deutsche Bank AG acquired a new stake in Aris Mining during the 2nd quarter worth approximately $21,321,000. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

Aris Mining Stock Down 5.8%

Shares of NYSE:ARIS opened at $18.83 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. Aris Mining Co. has a 52-week low of $8.59 and a 52-week high of $23.29. The company has a 50 day moving average of $16.29 and a two-hundred day moving average of $17.62. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 13.65 and a beta of -0.07.

Aris Mining (NYSE:ARIS) last posted its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. The business had revenue of $330.23 million for the quarter. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. As a group, analysts forecast that Aris Mining Co. will post 2.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ARIS shares. Weiss Ratings downgraded shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, August 20th. Zacks Research lowered shares of Aris Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Aris Mining currently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.