Aris Mining Co. Forecasted to Post Q1 2024 Earnings of $0.14 Per Share (NYSE:ARMN)

Aris Mining Co. (NYSE:ARMN) – Research analysts at Cormark dropped their Q1 2024 earnings per share (EPS) estimates for Aris Mining in a research report issued on Wednesday, April 17th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.14 for the quarter, down from their prior forecast of $0.17. 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 $0.64 EPS and FY2025 earnings at $1.31 EPS.

Aris Mining (NYSE:ARMN) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). The company had revenue of $124.98 million during the quarter. Aris Mining had a return on equity of 8.73% and a net margin of 2.09%.

Separately, TheStreet downgraded Aris Mining from a “c” rating to a “d+” rating in a report on Monday, March 18th.

Aris Mining Stock Performance

Shares of NYSE:ARMN opened at $3.82 on Thursday. The firm’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.86 and a current ratio of 2.15. Aris Mining has a one year low of $2.16 and a one year high of $3.86. The firm has a market cap of $540.23 million and a PE ratio of 191.00.

Institutional Investors Weigh In On Aris Mining

Several hedge funds have recently modified their holdings of ARMN. Scotia Capital Inc. bought a new stake in Aris Mining during the third quarter valued at about $27,000. Sprott Inc. bought a new stake in shares of Aris Mining in the 3rd quarter valued at about $33,000. Private Advisor Group LLC bought a new position in shares of Aris Mining during the 3rd quarter worth approximately $45,000. Metis Global Partners LLC purchased a new stake in Aris Mining during the third quarter valued at approximately $47,000. Finally, Citadel Advisors LLC acquired a new stake in Aris Mining in the fourth quarter valued at approximately $56,000. Hedge funds and other institutional investors own 35.81% of the company’s stock.

About Aris Mining

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.