Aris Mining (NYSE:ARMN) Shares Gap Down – Should You Sell?

Aris Mining Co. (NYSE:ARMN) gapped down prior to trading on Friday . The stock had previously closed at $20.47, but opened at $18.34. Aris Mining shares last traded at $18.4590, with a volume of 410,339 shares traded.

Analyst Upgrades and Downgrades

ARMN has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. Zacks Research raised shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, National Bankshares reissued an “outperform” rating on shares of Aris Mining in a 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $17.00.

Aris Mining Stock Performance

The company has a market capitalization of $3.75 billion, a P/E ratio of -914.75 and a beta of -0.55. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.13 and a current ratio of 1.45. The business’s fifty day simple moving average is $16.37 and its 200-day simple moving average is $11.56.

Institutional Investors Weigh In On Aris Mining

A number of hedge funds have recently made changes to their positions in ARMN. MMCAP International Inc. SPC grew its holdings in Aris Mining by 45.1% during the 3rd quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after buying an additional 5,112,295 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Aris Mining during the 2nd quarter worth approximately $32,173,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Aris Mining by 152.8% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock valued at $41,228,000 after acquiring an additional 2,542,740 shares during the last quarter. Merewether Investment Management LP purchased a new position in shares of Aris Mining in the third quarter valued at $18,748,000. Finally, Amundi increased its position in Aris Mining by 3,670.1% in the second quarter. Amundi now owns 1,885,031 shares of the company’s stock worth $12,969,000 after purchasing an additional 1,835,031 shares during the last quarter. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

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.