Aris Mining (NYSE:ARMN) Sees Unusually-High Trading Volume – Still a Buy?

Aris Mining Co. (NYSE:ARMN) saw strong trading volume on Thursday . 132,114 shares changed hands during mid-day trading, a decline of 57% from the previous session’s volume of 304,508 shares.The stock last traded at $3.62 and had previously closed at $3.77.

Aris Mining Stock Down 1.9 %

The business has a 50 day simple moving average of $3.79 and a 200-day simple moving average of $4.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The firm has a market capitalization of $619.06 million, a price-to-earnings ratio of -181.00 and a beta of 0.15.

Institutional Investors Weigh In On Aris Mining

A number of hedge funds have recently bought and sold shares of ARMN. Virtu Financial LLC increased its holdings in shares of Aris Mining by 66.6% in the 3rd 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. Barclays PLC lifted its position in shares of Aris Mining by 1,344.0% during the 3rd quarter. Barclays PLC now owns 34,656 shares of the company’s stock worth $160,000 after buying an additional 32,256 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Aris Mining in the 3rd quarter valued at $360,000. XTX Topco Ltd purchased a new position in shares of Aris Mining in the 3rd quarter valued at $129,000. Finally, National Bank of Canada FI raised its stake in Aris Mining by 180.6% during the 3rd quarter. National Bank of Canada FI now owns 145,048 shares of the company’s stock worth $667,000 after acquiring an additional 93,357 shares in the last quarter. Institutional investors and hedge funds own 35.81% of the company’s stock.

Aris Mining Company Profile

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.