CIBC Asset Management Inc Invests $1.65 Million in Aris Mining Co. $ARMN

CIBC Asset Management Inc purchased a new stake in shares of Aris Mining Co. (NYSE:ARMN) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 168,381 shares of the company’s stock, valued at approximately $1,648,000. CIBC Asset Management Inc owned about 0.08% of Aris Mining at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in Aris Mining in the second quarter worth $32,173,000. Sheets Smith Investment Management bought a new position in Aris Mining during the third quarter valued at about $1,351,000. Northwest & Ethical Investments L.P. acquired a new stake in shares of Aris Mining in the second quarter worth about $878,000. U S Global Investors Inc. bought a new stake in shares of Aris Mining during the 2nd quarter worth about $1,685,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Aris Mining during the 2nd quarter valued at about $11,203,000. Institutional investors and hedge funds own 35.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. National Bankshares restated an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. Finally, Zacks Research downgraded shares of Aris Mining from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.00.

Aris Mining Stock Up 2.2%

Shares of ARMN stock opened at $21.41 on Thursday. The stock has a 50 day moving average of $16.19 and a 200-day moving average of $11.50. The firm has a market cap of $4.40 billion, a PE ratio of -1,070.50 and a beta of -0.55. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. Aris Mining Co. has a 12 month low of $3.57 and a 12 month high of $21.47.

About Aris Mining

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.