Aris Mining (NYSE:ARMN) Shares Up 3.9% – Here’s Why

Aris Mining Co. (NYSE:ARMN)’s share price traded up 3.9% during mid-day trading on Friday . The stock traded as high as $19.33 and last traded at $19.2610. 1,744,162 shares traded hands during trading, a decline of 10% from the average session volume of 1,945,749 shares. The stock had previously closed at $18.53.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ARMN. National Bank Financial restated an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. Zacks Research raised Aris Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $17.00.

Aris Mining Stock Performance

The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The company has a market cap of $3.96 billion, a PE ratio of -963.05 and a beta of -0.55. The business’s 50-day moving average is $17.93 and its 200 day moving average is $12.86.

Hedge Funds Weigh In On Aris Mining

Several institutional investors and hedge funds have recently bought and sold shares of ARMN. Hillsdale Investment Management Inc. bought a new position in shares of Aris Mining in the second quarter worth approximately $32,173,000. Sheets Smith Investment Management purchased a new stake in Aris Mining during the 3rd quarter valued at $1,351,000. Y Intercept Hong Kong Ltd bought a new stake in Aris Mining in the 3rd quarter worth $1,783,000. Northwest & Ethical Investments L.P. purchased a new position in shares of Aris Mining in the second quarter valued at about $878,000. Finally, CIBC Asset Management Inc bought a new position in shares of Aris Mining during the third quarter valued at about $1,648,000. 35.81% of the stock is currently owned by 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.