Zacks Research Downgrades Aris Mining (NYSE:ARIS) to Strong Sell

Aris Mining (NYSE:ARIS) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings raised shares of Aris Mining from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Aris Mining Stock Performance

NYSE ARIS opened at $17.04 on Monday. The company has a market capitalization of $3.52 billion, a P/E ratio of 20.28 and a beta of -0.35. Aris Mining has a 12-month low of $5.90 and a 12-month high of $23.29. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $18.88 and a two-hundred day moving average price of $17.10.

Aris Mining (NYSE:ARIS) last released its earnings results on Wednesday, May 6th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.05). Aris Mining had a return on equity of 20.97% and a net margin of 15.19%.The company had revenue of $372.48 million for the quarter. Analysts anticipate that Aris Mining will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Aris Mining

A number of institutional investors have recently added to or reduced their stakes in ARIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Aris Mining by 96.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company’s stock worth $2,410,000 after acquiring an additional 256,022 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Aris Mining by 31.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock worth $3,280,000 after acquiring an additional 167,212 shares during the last quarter. Geode Capital Management LLC grew its holdings in Aris Mining by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after acquiring an additional 2,617 shares during the last quarter. Cetera Investment Advisers grew its holdings in Aris Mining by 2.5% during the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after acquiring an additional 2,135 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in Aris Mining during the 2nd quarter worth approximately $548,000. 39.71% of the stock is owned by institutional investors.

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.