Aris Mining (NYSE:ARMN) Hits New 12-Month High – Here’s Why

Aris Mining Co. (NYSE:ARMN)’s share price reached a new 52-week high on Monday . The stock traded as high as $7.27 and last traded at $7.21, with a volume of 648717 shares traded. The stock had previously closed at $7.05.

Wall Street Analysts Forecast Growth

Separately, National Bankshares restated an “outperform” rating on shares of Aris Mining in a research report on Tuesday, June 24th.

Aris Mining Trading Up 2.4%

The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.31 billion, a P/E ratio of -361.75 and a beta of -0.34. The company’s 50 day simple moving average is $6.49 and its 200-day simple moving average is $5.05.

Hedge Funds Weigh In On Aris Mining

Several institutional investors and hedge funds have recently bought and sold shares of ARMN. Quantbot Technologies LP acquired a new position in shares of Aris Mining in the first quarter worth about $76,000. Orion Resource Partners LP acquired a new position in shares of Aris Mining during the 4th quarter worth about $86,000. TD Waterhouse Canada Inc. raised its position in shares of Aris Mining by 210,416.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 25,262 shares of the company’s stock worth $86,000 after purchasing an additional 25,250 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Aris Mining during the 1st quarter worth about $116,000. Finally, Virtu Financial LLC acquired a new position in shares of Aris Mining during the 1st quarter worth about $117,000. 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.