Aris Mining (NYSE:ARMN) Cut to Hold at Zacks Research

Zacks Research lowered shares of Aris Mining (NYSE:ARMN) from a strong-buy rating to a hold rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a report on Thursday, October 30th. Canaccord Genuity Group lifted their price target on Aris Mining from $16.50 to $17.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, National Bankshares restated an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Aris Mining has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Aris Mining Stock Down 1.2%

ARMN stock opened at $16.23 on Tuesday. The company has a market capitalization of $3.32 billion, a P/E ratio of -811.50 and a beta of -0.51. Aris Mining has a 12 month low of $3.39 and a 12 month high of $16.99. The firm’s fifty day simple moving average is $13.17 and its 200-day simple moving average is $9.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13.

Institutional Trading of Aris Mining

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake in Aris Mining by 2.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 55,647 shares of the company’s stock valued at $546,000 after acquiring an additional 1,441 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Aris Mining by 16.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock worth $83,000 after purchasing an additional 1,780 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of 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 purchasing an additional 2,135 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Aris Mining by 3.0% in the second quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock valued at $599,000 after purchasing an additional 2,617 shares during the last quarter. Finally, Triasima Portfolio Management inc. increased its holdings in shares of Aris Mining by 1.6% in the third quarter. Triasima Portfolio Management inc. now owns 177,659 shares of the company’s stock valued at $1,742,000 after purchasing an additional 2,752 shares during the last quarter. Institutional investors and hedge funds own 35.81% of the company’s stock.

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.