Aris Mining (NYSE:ARIS) Shares Gap Down – What’s Next?

Aris Mining Co. (NYSE:ARIS)’s share price gapped down before the market opened on Monday. The stock had previously closed at $18.93, but opened at $17.67. Aris Mining shares last traded at $17.9380, with a volume of 302,439 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on ARIS shares. Weiss Ratings upgraded Aris Mining from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 18th. Zacks Research cut Aris Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Aris Mining presently has a consensus rating of “Moderate Buy”.

Aris Mining Stock Down 8.0%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.68 and a current ratio of 1.91. The stock’s 50-day moving average price is $17.94 and its two-hundred day moving average price is $17.64. The stock has a market capitalization of $3.59 billion, a PE ratio of 12.64 and a beta of -0.06.

Aris Mining (NYSE:ARIS) last issued its quarterly earnings results 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 net margin of 22.43% and a return on equity of 22.82%. The company had revenue of $330.23 million during the quarter. As a group, analysts expect that Aris Mining Co. will post 2.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Aris Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Engineers Gate Manager LP boosted its position in shares of Aris Mining by 275.3% in the 2nd quarter. Engineers Gate Manager LP now owns 120,499 shares of the company’s stock worth $1,797,000 after purchasing an additional 88,394 shares in the last quarter. Amundi bought a new position in Aris Mining during the 2nd quarter valued at approximately $16,446,000. TD Waterhouse Canada Inc. increased its position in Aris Mining by 41.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 6,380 shares of the company’s stock valued at $93,000 after buying an additional 1,876 shares in the last quarter. Sigma Planning Corp purchased a new position in Aris Mining during the second quarter valued at $754,000. Finally, Sheets Smith Wealth Management purchased a new position in Aris Mining during the second quarter valued at $859,000. Institutional investors own 39.71% of the company’s stock.

Aris Mining Company Profile

Aris Mining Corporation is a gold mining company focused on the exploration, development and operation of mineral properties in Colombia. The company produces gold and associated silver through its underground and processing operations, with a strategy centered on expanding production, extending mine lives and advancing exploration opportunities in established mining districts.

Aris Mining’s principal assets include the Segovia Operations in Antioquia, Colombia, a long-running high-grade underground mining complex, and the Marmato Mining Complex in Caldas, Colombia.