Aris Mining (NYSE:ARMN) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Aris Mining (NYSE:ARMN) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. National Bankshares reiterated an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $17.00.

Aris Mining Trading Down 4.4%

Shares of NYSE:ARMN opened at $20.47 on Wednesday. The stock has a 50 day moving average of $16.37 and a 200 day moving average of $11.56. The company has a market cap of $4.21 billion, a PE ratio of -1,023.50 and a beta of -0.55. Aris Mining has a 12-month low of $3.57 and a 12-month high of $21.98. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32.

Hedge Funds Weigh In On Aris Mining

Several hedge funds have recently modified their holdings of ARMN. MMCAP International Inc. SPC increased its holdings in Aris Mining by 45.1% in the 3rd quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after acquiring an additional 5,112,295 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Aris Mining during the second quarter valued at about $32,173,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Aris Mining by 152.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock worth $41,228,000 after purchasing an additional 2,542,740 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of Aris Mining in the third quarter worth about $18,748,000. Finally, Amundi lifted its position in shares of Aris Mining by 3,670.1% in the second quarter. Amundi now owns 1,885,031 shares of the company’s stock worth $12,969,000 after buying an additional 1,835,031 shares in the last quarter. Hedge funds and other institutional investors own 35.81% of the company’s stock.

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.