Aris Mining (NYSE:ARMN) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Aris Mining (NYSE:ARMN) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Canaccord Genuity Group raised their target price on shares of Aris Mining from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. Finally, National Bankshares reissued an “outperform” rating on shares of Aris Mining in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $17.00.

Aris Mining Trading Up 1.8%

NYSE:ARMN opened at $10.96 on Monday. The company has a market capitalization of $2.22 billion, a PE ratio of -548.00 and a beta of -0.31. Aris Mining has a 52-week low of $3.29 and a 52-week high of $11.24. The stock’s 50 day moving average price is $9.87 and its 200 day moving average price is $7.88. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its holdings in Aris Mining by 31.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock valued at $3,280,000 after purchasing an additional 167,212 shares in the last quarter. Farther Finance Advisors LLC purchased a new position in shares of Aris Mining during the 2nd quarter worth approximately $370,000. U S Global Investors Inc. acquired a new stake in shares of Aris Mining in the 2nd quarter valued at approximately $1,685,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Aris Mining in the first quarter valued at approximately $284,000. Finally, Nuveen LLC acquired a new position in Aris Mining during the first quarter worth $589,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

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.