Aris Mining (NYSE:ARIS) Trading Down 8.1% – Here’s What Happened

Aris Mining Co. (NYSE:ARIS)’s share price dropped 8.1% during mid-day trading on Thursday . The company traded as low as $15.48 and last traded at $16.2210. Approximately 1,029,617 shares changed hands during trading, a decline of 43% from the average daily volume of 1,802,738 shares. The stock had previously closed at $17.65.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARIS. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Zacks Research upgraded Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings assumed coverage on Aris Mining in a report on Wednesday, March 11th. They issued a “hold (c+)” rating for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.

Aris Mining Stock Performance

The stock has a 50-day moving average price of $18.95 and a 200 day moving average price of $14.44. The company has a quick ratio of 1.58, a current ratio of 1.76 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 42.33 and a beta of -0.74.

Aris Mining (NYSE:ARIS) last issued its earnings results on Wednesday, March 11th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.17). Aris Mining had a net margin of 8.45% and a return on equity of 15.59%. The firm had revenue of $308.57 million during the quarter. On average, analysts forecast that Aris Mining Co. will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Aris Mining

Several institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. grew its stake in shares of Aris Mining by 190,092.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 218,721 shares of the company’s stock worth $3,550,000 after purchasing an additional 218,606 shares in the last quarter. State of Tennessee Department of Treasury acquired a new stake in Aris Mining in the fourth quarter valued at $292,000. Mackenzie Financial Corp lifted its holdings in Aris Mining by 116.2% during the 4th quarter. Mackenzie Financial Corp now owns 223,968 shares of the company’s stock worth $3,674,000 after buying an additional 120,376 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Aris Mining during the 4th quarter worth about $224,000. Finally, Toronto Dominion Bank boosted its position in shares of Aris Mining by 5,452.7% during the 4th quarter. Toronto Dominion Bank now owns 1,246,077 shares of the company’s stock worth $20,209,000 after acquiring an additional 1,223,636 shares in the last quarter. 39.71% of the stock is owned by hedge funds and other institutional investors.

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.