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

Aris Mining Co. (NYSE:ARMN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $16.77 and last traded at $16.7370, with a volume of 192504 shares traded. The stock had previously closed at $15.91.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ARMN shares. Canaccord Genuity Group increased their price objective on Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Zacks Research raised Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. National Bankshares reiterated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.00.

Aris Mining Trading Down 0.6%

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13. The business’s 50-day simple moving average is $12.31 and its two-hundred day simple moving average is $9.53. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -816.30 and a beta of -0.53.

Hedge Funds Weigh In On Aris Mining

Several hedge funds and other institutional investors have recently modified their holdings of ARMN. MMCAP International Inc. SPC increased its stake in shares of Aris Mining by 45.1% in the third quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after purchasing an additional 5,112,295 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Aris Mining during the 2nd quarter valued at $32,173,000. Arrowstreet Capital Limited Partnership boosted its position in Aris Mining by 152.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock worth $41,228,000 after acquiring an additional 2,542,740 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Aris Mining by 18.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock worth $38,722,000 after purchasing an additional 602,941 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Aris Mining by 75.4% in the 3rd quarter. American Century Companies Inc. now owns 2,776,448 shares of the company’s stock valued at $27,211,000 after buying an additional 1,193,444 shares in the last quarter. Institutional investors and hedge funds own 35.81% of the company’s stock.

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.