Aris Mining (NYSE:ARMN) Sees Large Volume Increase – Time to Buy?

Aris Mining Co. (NYSE:ARMN) shares saw an uptick in trading volume on Thursday . 209,792 shares were traded during mid-day trading, a decline of 45% from the previous session’s volume of 379,388 shares.The stock last traded at $3.39 and had previously closed at $3.55.

Aris Mining Stock Down 6.5 %

The stock has a market capitalization of $567.77 million, a price-to-earnings ratio of -166.00 and a beta of -0.20. The firm has a 50 day simple moving average of $4.23 and a 200-day simple moving average of $4.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13.

Hedge Funds Weigh In On Aris Mining

Several institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC raised its stake in shares of Aris Mining by 66.6% in the third quarter. Virtu Financial LLC now owns 22,279 shares of the company’s stock valued at $102,000 after acquiring an additional 8,909 shares during the last quarter. PDT Partners LLC acquired a new position in Aris Mining in the third quarter worth $59,000. Banque Cantonale Vaudoise acquired a new position in Aris Mining in the second quarter worth $51,000. International Assets Investment Management LLC bought a new stake in shares of Aris Mining during the third quarter worth $740,000. Finally, Centiva Capital LP bought a new position in shares of Aris Mining in the third quarter valued at about $84,000. 35.81% of the stock is owned by 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.