FY2024 EPS Estimate for Aris Mining Reduced by Analyst

Aris Mining Co. (NYSE:ARMN) – Analysts at National Bank Financial cut their FY2024 earnings per share estimates for Aris Mining in a note issued to investors on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now anticipates that the company will post earnings of $0.39 per share for the year, down from their previous estimate of $0.40. The consensus estimate for Aris Mining’s current full-year earnings is $0.52 per share.

Aris Mining Trading Down 1.5 %

Shares of ARMN stock opened at $4.64 on Friday. The stock has a 50 day simple moving average of $4.61 and a 200 day simple moving average of $4.28. The company has a current ratio of 1.88, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. Aris Mining has a 1 year low of $2.32 and a 1 year high of $5.16. The stock has a market cap of $790.24 million and a P/E ratio of 58.00.

Aris Mining (NYSE:ARMN) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.07). The company had revenue of $117.19 million during the quarter. Aris Mining had a net margin of 2.46% and a return on equity of 6.00%.

Institutional Investors Weigh In On Aris Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new stake in Aris Mining during the second quarter worth $51,000. Virtu Financial LLC acquired a new position in shares of Aris Mining during the first quarter worth $79,000. Quadrature Capital Ltd acquired a new position in shares of Aris Mining during the first quarter worth $165,000. Mackenzie Financial Corp acquired a new position in shares of Aris Mining during the second quarter worth $220,000. Finally, TD Asset Management Inc acquired a new position in shares of Aris Mining during the second quarter worth $494,000. 35.81% of the stock is currently 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.