Aris Mining (NYSE:ARIS) Stock Price Down 4.2% – Here’s Why

Aris Mining Co. (NYSE:ARIS) shares were down 4.2% on Tuesday . The company traded as low as $20.05 and last traded at $19.9650. Approximately 145,582 shares traded hands during trading, a decline of 92% from the average daily volume of 1,941,083 shares. The stock had previously closed at $20.83.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARIS. Weiss Ratings upgraded shares of Aris Mining from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 25th. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Finally, Zacks Research raised shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat, Aris Mining has a consensus rating of “Buy” and a consensus target price of $17.00.

Aris Mining Trading Down 7.1%

The firm has a market cap of $3.98 billion, a P/E ratio of 50.86 and a beta of -0.13. The company has a current ratio of 1.76, a quick ratio of 1.58 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average price is $19.08 and its two-hundred day moving average price is $15.95.

Aris Mining (NYSE:ARIS) last announced its quarterly earnings results on Wednesday, March 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.17). The firm had revenue of $308.57 million for the quarter. Aris Mining had a net margin of 8.45% and a return on equity of 15.59%. As a group, sell-side analysts predict that Aris Mining Co. will post 2.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Aris Mining

A number of large investors have recently bought and sold shares of ARIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Aris Mining by 96.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company’s stock valued at $2,410,000 after purchasing an additional 256,022 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Aris Mining by 31.0% in the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock worth $3,280,000 after purchasing an additional 167,212 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Aris Mining by 3.0% during the second quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after purchasing an additional 2,617 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Aris Mining by 2.5% in the second quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock valued at $593,000 after buying an additional 2,135 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Aris Mining in the second quarter valued at $548,000. 39.71% of the stock is currently owned by institutional investors.

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.