Aris Mining (NYSE:ARMN) Shares Gap Down – Should You Sell?

Aris Mining Co. (NYSE:ARMN) gapped down before the market opened on Friday . The stock had previously closed at $20.47, but opened at $18.34. Aris Mining shares last traded at $18.4590, with a volume of 410,339 shares.

Analysts Set New Price Targets

A number of research firms have issued reports on ARMN. Zacks Research raised Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday. National Bankshares restated an “outperform” rating on shares of Aris Mining in a research note on Monday, November 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.00.

Aris Mining Stock Performance

The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -857.00 and a beta of -0.55. The firm’s 50-day moving average price is $16.48 and its two-hundred day moving average price is $11.66. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45.

Institutional Trading of Aris Mining

Several institutional investors have recently bought and sold shares of the stock. MMCAP International Inc. SPC grew its position in Aris Mining by 45.1% in the third quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after acquiring an additional 5,112,295 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in shares of Aris Mining in the 2nd quarter valued at $32,173,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Aris Mining by 152.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock worth $41,228,000 after purchasing an additional 2,542,740 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Aris Mining by 18.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,951,691 shares of the company’s stock worth $38,722,000 after purchasing an additional 602,941 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Aris Mining by 75.4% during the 3rd quarter. American Century Companies Inc. now owns 2,776,448 shares of the company’s stock valued at $27,211,000 after purchasing an additional 1,193,444 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.