Aris Mining (NYSE:ARMN) Shares Gap Up – What’s Next?

Aris Mining Co. (NYSE:ARMN)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $5.41, but opened at $5.65. Aris Mining shares last traded at $5.50, with a volume of 238,874 shares traded.

Aris Mining Stock Performance

The firm has a fifty day moving average of $4.39 and a 200-day moving average of $4.15. 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 stock has a market capitalization of $934.86 million, a price-to-earnings ratio of -272.00 and a beta of -0.46.

Hedge Funds Weigh In On Aris Mining

Several hedge funds have recently bought and sold shares of ARMN. Invesco Ltd. boosted its stake in shares of Aris Mining by 51.8% during the fourth quarter. Invesco Ltd. now owns 6,581,952 shares of the company’s stock valued at $23,037,000 after acquiring an additional 2,245,775 shares during the last quarter. Ruffer LLP lifted its holdings in Aris Mining by 15.2% in the 4th quarter. Ruffer LLP now owns 5,687,273 shares of the company’s stock valued at $19,940,000 after purchasing an additional 751,473 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Aris Mining by 4.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,412,442 shares of the company’s stock worth $4,950,000 after purchasing an additional 55,917 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Aris Mining by 25.3% during the fourth quarter. Deutsche Bank AG now owns 1,088,616 shares of the company’s stock worth $3,810,000 after buying an additional 219,810 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its stake in shares of Aris Mining by 12.8% during the fourth quarter. Alberta Investment Management Corp now owns 1,036,050 shares of the company’s stock valued at $3,631,000 after buying an additional 117,249 shares during the period. Hedge funds and other institutional investors own 35.81% of the company’s stock.

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.