Aris Mining Co. (NYSE:ARMN) to Post Q2 2024 Earnings of $0.15 Per Share, Cormark Forecasts

Aris Mining Co. (NYSE:ARMN) – Research analysts at Cormark dropped their Q2 2024 earnings per share estimates for Aris Mining in a research report issued on Thursday, July 18th. Cormark analyst R. Gray now anticipates that the company will post earnings of $0.15 per share for the quarter, down from their previous estimate of $0.22. The consensus estimate for Aris Mining’s current full-year earnings is $0.63 per share. Cormark also issued estimates for Aris Mining’s FY2024 earnings at $0.66 EPS, FY2025 earnings at $1.50 EPS and FY2026 earnings at $2.63 EPS.

Aris Mining (NYSE:ARMN) last posted its earnings results on Tuesday, May 14th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07). Aris Mining had a return on equity of 7.64% and a net margin of 3.06%. The business had revenue of $107.62 million for the quarter.

Aris Mining Stock Performance

Shares of Aris Mining stock opened at $4.35 on Monday. The stock has a market cap of $736.15 million and a price-to-earnings ratio of 87.00. Aris Mining has a twelve month low of $2.16 and a twelve month high of $4.67. The company’s fifty day moving average is $4.16 and its 200 day moving average is $3.66. The company has a quick ratio of 1.61, a current ratio of 1.92 and a debt-to-equity ratio of 0.54.

Hedge Funds Weigh In On Aris Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new stake in Aris Mining during the 4th quarter worth about $632,000. Acadian Asset Management LLC grew its stake in Aris Mining by 127.9% during the first quarter. Acadian Asset Management LLC now owns 1,338,317 shares of the company’s stock worth $4,790,000 after purchasing an additional 751,046 shares during the period. International Assets Investment Management LLC acquired a new stake in Aris Mining during the fourth quarter worth approximately $380,000. Baader Bank Aktiengesellschaft acquired a new stake in Aris Mining during the fourth quarter worth approximately $131,000. Finally, Virtu Financial LLC bought a new stake in Aris Mining in the first quarter worth approximately $79,000. 35.81% of the stock is owned by institutional investors and hedge funds.

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.