Aris Mining (NYSE:ARIS) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Aris Mining (NYSE:ARIS) from a strong sell rating to a hold rating in a research report released on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings downgraded Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Aris Mining Price Performance

Shares of ARIS opened at $14.03 on Tuesday. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 16.70 and a beta of -0.22. The firm’s fifty day simple moving average is $16.88 and its 200-day simple moving average is $17.98. Aris Mining has a twelve month low of $6.65 and a twelve month high of $23.29. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30.

Aris Mining (NYSE:ARIS) last issued its earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). The firm had revenue of $372.48 million for the quarter. Aris Mining had a return on equity of 20.97% and a net margin of 15.19%. Equities analysts forecast that Aris Mining will post 2.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Aris Mining

A number of institutional investors have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership grew its position in Aris Mining by 28.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,418,929 shares of the company’s stock worth $87,907,000 after purchasing an additional 1,211,708 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Aris Mining by 18.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock worth $38,722,000 after buying an additional 602,941 shares during the period. FIL Ltd acquired a new stake in shares of Aris Mining during the fourth quarter worth about $62,900,000. JPMorgan Chase & Co. grew its holdings in shares of Aris Mining by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 3,240,826 shares of the company’s stock worth $52,599,000 after buying an additional 1,510,919 shares during the last quarter. Finally, Apis Capital Advisors LLC increased its position in Aris Mining by 33.9% in the 3rd quarter. Apis Capital Advisors LLC now owns 2,514,000 shares of the company’s stock valued at $24,642,000 after acquiring an additional 636,000 shares during the period. 39.71% of the stock is owned by institutional investors and hedge funds.

Aris Mining Company 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.