Cibc World Market Inc. Buys New Shares in Aris Mining Co. $ARIS

Cibc World Market Inc. purchased a new stake in shares of Aris Mining Co. (NYSE:ARIS) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 316,835 shares of the company’s stock, valued at approximately $4,721,000.

A number of other large investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Aris Mining in the 2nd quarter worth approximately $89,137,000. Arrowstreet Capital Limited Partnership purchased a new stake in Aris Mining in the first quarter worth approximately $97,429,000. FIL Ltd bought a new position in Aris Mining during the fourth quarter valued at approximately $62,900,000. Merewether Investment Management LP bought a new position in Aris Mining during the third quarter valued at approximately $18,748,000. Finally, Amundi raised its stake in shares of Aris Mining by 3,670.1% during the second quarter. Amundi now owns 1,885,031 shares of the company’s stock worth $12,969,000 after acquiring an additional 1,835,031 shares in the last quarter. Hedge funds and other institutional investors own 39.71% of the company’s stock.

Aris Mining Trading Up 1.7%

Shares of ARIS stock opened at $21.16 on Wednesday. The business has a 50-day moving average of $15.92 and a 200 day moving average of $17.56. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.91 and a quick ratio of 1.68. Aris Mining Co. has a 1-year low of $7.39 and a 1-year high of $23.29. The stock has a market capitalization of $4.37 billion, a PE ratio of 15.33 and a beta of -0.14.

Aris Mining (NYSE:ARIS) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Aris Mining had a return on equity of 22.82% and a net margin of 22.43%.The business had revenue of $330.23 million for the quarter. As a group, sell-side analysts anticipate that Aris Mining Co. will post 2.28 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARIS. Zacks Research lowered shares of Aris Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.00.

About Aris Mining

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.