Aris Mining (NYSE:ARIS) Issues Quarterly Earnings Results

Aris Mining (NYSE:ARIS) released its quarterly earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.08, Zacks reports. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%.

Aris Mining Trading Down 4.0%

Aris Mining stock opened at $13.89 on Thursday. Aris Mining has a 12-month low of $6.65 and a 12-month high of $23.29. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 16.53 and a beta of -0.22. The firm has a 50 day moving average of $15.62 and a 200 day moving average of $17.77. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Zacks Research upgraded Aris Mining from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings cut Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Hedge Funds Weigh In On Aris Mining

A number of hedge funds have recently modified their holdings of ARIS. Investment Management Corp of Ontario purchased a new position in shares of Aris Mining during the 4th quarter valued at $403,000. Armistice Capital LLC bought a new position in Aris Mining in the 4th quarter worth $296,000. State of Tennessee Department of Treasury purchased a new stake in Aris Mining in the 4th quarter worth $292,000. Man Group plc purchased a new stake in Aris Mining in the 3rd quarter worth $267,000. Finally, Entropy Technologies LP bought a new stake in Aris Mining during the fourth quarter valued at about $246,000. 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.