The Manufacturers Life Insurance Company Makes New Investment in Aris Mining Co. $ARIS

The Manufacturers Life Insurance Company bought a new stake in shares of Aris Mining Co. (NYSE:ARIS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 184,401 shares of the company’s stock, valued at approximately $2,744,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thomist Capital Management LP bought a new position in shares of Aris Mining in the 2nd quarter worth $26,111,000. Cibc World Market Inc. purchased a new stake in shares of Aris Mining during the 2nd quarter worth $4,721,000. Sanctuary Advisors LLC bought a new stake in Aris Mining during the second quarter valued at about $231,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Aris Mining during the second quarter valued at about $89,137,000. Finally, Quantbot Technologies LP purchased a new position in Aris Mining in the second quarter valued at about $982,000. 39.71% of the stock is currently owned by hedge funds and other institutional investors.

Aris Mining Price Performance

NYSE ARIS opened at $19.67 on Thursday. The firm’s fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $17.62. The firm has a market capitalization of $4.06 billion, a P/E ratio of 14.26 and a beta of -0.07. The company has a current ratio of 1.91, a quick ratio of 1.68 and a debt-to-equity ratio of 0.26. Aris Mining Co. has a 12-month low of $8.75 and a 12-month high of $23.29.

Aris Mining (NYSE:ARIS) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. The firm had revenue of $330.23 million during the quarter. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%. Analysts forecast that Aris Mining Co. will post 2.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 20th. Zacks Research cut shares of Aris Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

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.