Aris Mining (NYSE:ARMN) Reaches New 52-Week High – Should You Buy?

Aris Mining Co. (NYSE:ARMN) hit a new 52-week high on Monday . The stock traded as high as $7.02 and last traded at $6.97, with a volume of 673428 shares traded. The stock had previously closed at $6.85.

Aris Mining Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -343.25 and a beta of -0.31. The company has a 50-day simple moving average of $6.05 and a two-hundred day simple moving average of $4.71.

Hedge Funds Weigh In On Aris Mining

Several institutional investors have recently modified their holdings of ARMN. Invesco Ltd. raised its stake in shares of Aris Mining by 4.8% during the first quarter. Invesco Ltd. now owns 6,901,062 shares of the company’s stock valued at $32,021,000 after purchasing an additional 319,110 shares in the last quarter. Ruffer LLP boosted its holdings in shares of Aris Mining by 15.2% in the fourth quarter. Ruffer LLP now owns 5,687,273 shares of the company’s stock valued at $19,940,000 after acquiring an additional 751,473 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Aris Mining by 21.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,999,250 shares of the company’s stock valued at $13,862,000 after acquiring an additional 530,750 shares during the period. Russell Investments Group Ltd. raised its holdings in Aris Mining by 4.1% during the fourth quarter. Russell Investments Group Ltd. now owns 1,412,442 shares of the company’s stock worth $4,950,000 after purchasing an additional 55,917 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Aris Mining by 28.8% in the first quarter. Deutsche Bank AG now owns 1,401,597 shares of the company’s stock worth $6,503,000 after purchasing an additional 312,981 shares during the period. Institutional investors own 35.81% of the company’s stock.

Aris Mining Company Profile

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.