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

Zacks Research cut shares of Aris Mining (NYSE:ARIS) from a hold rating to a strong sell rating in a research report released on Wednesday morning,Zacks.com reports.

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

Aris Mining Trading Up 1.0%

ARIS stock opened at $15.79 on Wednesday. Aris Mining has a 1-year low of $6.65 and a 1-year high of $23.29. The company has a current ratio of 1.91, a quick ratio of 1.68 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $15.32 and its 200-day moving average is $17.64. The firm has a market cap of $3.26 billion, a P/E ratio of 11.44 and a beta of -0.14.

Aris Mining (NYSE:ARIS) last posted its earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. The business 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%. Equities analysts anticipate that Aris Mining will post 2.28 earnings per share for the current fiscal year.

Institutional Trading of Aris Mining

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Aris Mining by 96.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company’s stock worth $2,410,000 after buying an additional 256,022 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Aris Mining by 31.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock worth $3,280,000 after acquiring an additional 167,212 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Aris Mining by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after acquiring an additional 2,617 shares in the last quarter. Cetera Investment Advisers grew its position in Aris Mining by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after acquiring an additional 2,135 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in Aris Mining during the 2nd quarter worth approximately $548,000. 39.71% of the stock is owned by 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.