Brokers Set Expectations for Aris Mining Co.’s Q1 2024 Earnings (NYSE:ARMN)

Aris Mining Co. (NYSE:ARMN) – Research analysts at Cormark reduced their Q1 2024 earnings per share estimates for Aris Mining in a report issued on Wednesday, April 17th. Cormark analyst R. Gray now expects that the company will earn $0.14 per share for the quarter, down from their prior forecast of $0.17. The consensus estimate for Aris Mining’s current full-year earnings is $0.62 per share. Cormark also issued estimates for Aris Mining’s FY2024 earnings at $0.64 EPS and FY2025 earnings at $1.31 EPS.

Separately, TheStreet cut Aris Mining from a “c” rating to a “d+” rating in a research report on Monday, March 18th.

Aris Mining Price Performance

Shares of ARMN opened at $3.94 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.15 and a quick ratio of 1.86. Aris Mining has a 1-year low of $2.16 and a 1-year high of $3.97. The stock has a market cap of $557.19 million and a PE ratio of 197.00. The firm has a fifty day moving average price of $3.29 and a 200 day moving average price of $3.02.

Aris Mining (NYSE:ARMN) last issued its quarterly earnings data on Wednesday, March 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). The company had revenue of $124.98 million for the quarter. Aris Mining had a return on equity of 8.73% and a net margin of 2.09%.

Institutional Investors Weigh In On Aris Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Aris Mining during the fourth quarter worth about $380,000. Scotia Capital Inc. acquired a new stake in Aris Mining during the 3rd quarter worth approximately $27,000. Sprott Inc. acquired a new stake in Aris Mining during the 3rd quarter worth approximately $33,000. Citadel Advisors LLC purchased a new position in shares of Aris Mining in the 4th quarter valued at approximately $56,000. Finally, Private Advisor Group LLC acquired a new position in shares of Aris Mining in the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 35.81% of the company’s stock.

Aris Mining Company Profile

Aris Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana. It also explores for silver and copper deposits. The company was formerly known as GCM Mining Corp. and changed its name to Aris Mining Corporation in September 2022.