Ares Strategic Mining (OTCMKTS:ARSMF) Shares Up 5.7% – Still a Buy?

Ares Strategic Mining Inc. (OTCMKTS:ARSMF)’s stock price was up 5.7% on Wednesday . The stock traded as high as $0.2848 and last traded at $0.2760. Approximately 174,357 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 520,151 shares. The stock had previously closed at $0.2611.

Ares Strategic Mining Trading Up 6.7%

The stock has a fifty day simple moving average of $0.21 and a 200-day simple moving average of $0.29.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG acquired a new position in Ares Strategic Mining during the second quarter valued at approximately $122,000. Bank of New York Mellon Corp acquired a new stake in Ares Strategic Mining in the second quarter worth $345,000. Finally, BlackRock Inc. bought a new position in shares of Ares Strategic Mining during the second quarter worth $10,274,000.

About Ares Strategic Mining

Ares Strategic Mining Inc, a junior natural resource mining company, engages in the acquisition, exploration, and development of fluorspar properties in Canada and the United States. It focuses on the exploitation, production, and supply of metspar and acidspar. The company holds 100% interest in the Lost Sheep Fluoride Mine that consists of 353 claims covering an area of approximately 5,982 acres located in western Utah, the United States; and the Liard Fluorspar property, which includes 55 claims covering an area of approximately 55,000 acres located in British Columbia.