Aris Mining (NYSE:ARMN) Sets New 1-Year High – Should You Buy?

Aris Mining Co. (NYSE:ARMN)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $11.41 and last traded at $11.4050, with a volume of 640545 shares traded. The stock had previously closed at $10.96.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARMN. Zacks Research raised shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a research report on Monday. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research report on Thursday, October 30th. National Bankshares restated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. Finally, Canaccord Genuity Group increased their price target on Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.00.

Aris Mining Trading Up 3.4%

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 cap of $2.30 billion, a PE ratio of -566.50 and a beta of -0.31. The company’s 50-day moving average is $9.87 and its 200 day moving average is $7.88.

Institutional Investors Weigh In On Aris Mining

Several hedge funds have recently bought and sold shares of ARMN. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Aris Mining in the 1st quarter valued at about $116,000. Goldman Sachs Group Inc. grew its position in Aris Mining by 31.0% during the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock valued at $3,280,000 after purchasing an additional 167,212 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in Aris Mining during the second quarter valued at approximately $370,000. U S Global Investors Inc. acquired a new position in Aris Mining in the 2nd quarter valued at approximately $1,685,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Aris Mining in the 1st quarter valued at approximately $284,000. 35.81% of the stock is owned by hedge funds and other institutional investors.

About Aris Mining

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.