Aris Mining (NYSE:ARMN) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Aris Mining (NYSE:ARMN) issued its earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.07), reports. Aris Mining had a return on equity of 8.73% and a net margin of 2.09%. The company had revenue of $107.62 million during the quarter.

Aris Mining Price Performance

Shares of NYSE:ARMN traded up $0.01 during midday trading on Thursday, reaching $4.02. The company’s stock had a trading volume of 48,465 shares, compared to its average volume of 220,191. Aris Mining has a fifty-two week low of $2.16 and a fifty-two week high of $4.49. The business’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $3.24. The company has a market capitalization of $610.72 million and a P/E ratio of 200.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.15 and a quick ratio of 1.86.

Hedge Funds Weigh In On Aris Mining

Several large investors have recently made changes to their positions in ARMN. MMCAP International Inc. SPC bought a new position in Aris Mining during the third quarter worth about $30,155,000. Van ECK Associates Corp acquired a new position in shares of Aris Mining in the 3rd quarter valued at approximately $15,638,000. Ruffer LLP bought a new stake in Aris Mining during the 3rd quarter worth approximately $11,641,000. Invesco Ltd. bought a new stake in Aris Mining during the 3rd quarter worth approximately $7,142,000. Finally, 683 Capital Management LLC acquired a new stake in Aris Mining during the 3rd quarter worth approximately $5,272,000. Institutional investors and hedge funds own 35.81% of the company’s stock.

Analysts Set New Price Targets

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

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.