Aris Mining (NYSE:ARIS) Posts Quarterly Earnings Results, Misses Estimates By $0.17 EPS

Aris Mining (NYSE:ARIS) issued its quarterly earnings results on Wednesday. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.17), Zacks reports. Aris Mining had a positive return on equity of 4.97% and a negative net margin of 0.66%.The company had revenue of $308.57 million during the quarter.

Aris Mining Price Performance

Aris Mining stock traded down $0.45 during mid-day trading on Thursday, hitting $19.26. The stock had a trading volume of 1,676,537 shares, compared to its average volume of 1,742,313. Aris Mining has a one year low of $4.03 and a one year high of $23.29. The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.96 billion, a P/E ratio of -963.05 and a beta of -0.55. The firm’s 50 day moving average is $18.74 and its 200 day moving average is $14.00.

Hedge Funds Weigh In On Aris Mining

Several large investors have recently made changes to their positions in the business. Aquatic Capital Management LLC bought a new position in Aris Mining during the third quarter valued at $257,000. Entropy Technologies LP purchased a new stake in shares of Aris Mining in the fourth quarter worth approximately $246,000. Jain Global LLC purchased a new stake in shares of Aris Mining in the third quarter worth approximately $225,000. Voloridge Investment Management LLC bought a new stake in shares of Aris Mining during the 4th quarter worth approximately $224,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Aris Mining by 24.9% during the 3rd quarter. Gamco Investors INC. ET AL now owns 22,470 shares of the company’s stock worth $220,000 after acquiring an additional 4,475 shares during the last quarter. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ARIS shares. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. Zacks Research raised Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. According to data from MarketBeat.com, Aris Mining currently has an average rating of “Buy” and an average target price of $17.00.

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.