Sheets Smith Wealth Management Purchases New Position in Aris Mining Co. $ARIS

Sheets Smith Wealth Management purchased a new position in Aris Mining Co. (NYSE:ARIS) in the second quarter, Holdings Channel reports. The fund purchased 57,698 shares of the company’s stock, valued at approximately $859,000.

A number of other hedge funds also recently bought and sold shares of ARIS. Kestra Advisory Services LLC acquired a new stake in Aris Mining in the fourth quarter valued at approximately $27,000. RMG Wealth Management LLC purchased a new stake in shares of Aris Mining in the first quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in shares of Aris Mining during the 4th quarter worth approximately $37,000. PNC Financial Services Group Inc. acquired a new position in shares of Aris Mining during the 1st quarter worth approximately $45,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Aris Mining during the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 39.71% of the company’s stock.

Wall Street Analyst Weigh In

ARIS has been the topic of a number of research analyst reports. Zacks Research cut shares of Aris Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Weiss Ratings cut shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Aris Mining Price Performance

Shares of NYSE ARIS opened at $20.32 on Friday. The firm has a 50-day simple moving average of $16.16 and a 200-day simple moving average of $17.63. The company has a quick ratio of 1.68, a current ratio of 1.91 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 14.72 and a beta of -0.14. Aris Mining Co. has a 52 week low of $8.10 and a 52 week high of $23.29.

Aris Mining (NYSE:ARIS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08. Aris Mining had a net margin of 22.43% and a return on equity of 22.82%. The firm had revenue of $330.23 million for the quarter. On average, equities analysts predict that Aris Mining Co. will post 2.28 earnings per share for the current fiscal year.

Aris Mining Profile

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.