Sheets Smith Investment Management Makes New $1.35 Million Investment in Aris Mining Co. $ARMN

Sheets Smith Investment Management acquired a new stake in Aris Mining Co. (NYSE:ARMN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 137,890 shares of the company’s stock, valued at approximately $1,351,000. Sheets Smith Investment Management owned 0.07% of Aris Mining as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ARMN. Hillsdale Investment Management Inc. acquired a new stake in Aris Mining in the second quarter valued at approximately $32,173,000. Amundi increased its position in shares of Aris Mining by 3,670.1% in the 2nd quarter. Amundi now owns 1,885,031 shares of the company’s stock valued at $12,969,000 after purchasing an additional 1,835,031 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Aris Mining by 41,257.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,815,998 shares of the company’s stock valued at $12,204,000 after purchasing an additional 1,811,607 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Aris Mining in the 2nd quarter valued at $11,203,000. Finally, Bank of America Corp DE lifted its position in shares of Aris Mining by 131.2% during the 2nd quarter. Bank of America Corp DE now owns 1,065,642 shares of the company’s stock worth $7,161,000 after purchasing an additional 604,672 shares during the last quarter. 35.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on ARMN. National Bankshares reissued an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. Zacks Research upgraded Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Monday, November 10th. Canaccord Genuity Group raised their target price on Aris Mining from $16.50 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Aris Mining in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.00.

Aris Mining Stock Performance

Shares of ARMN stock opened at $15.65 on Friday. The stock’s 50-day moving average is $11.96 and its two-hundred day moving average is $9.29. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. Aris Mining Co. has a 1 year low of $3.29 and a 1 year high of $16.03. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of -782.50 and a beta of -0.51.

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.