Picton Mahoney Asset Management Invests $3.72 Million in Aris Mining Co. $ARMN

Picton Mahoney Asset Management acquired a new position in shares of Aris Mining Co. (NYSE:ARMN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 380,027 shares of the company’s stock, valued at approximately $3,724,000. Picton Mahoney Asset Management owned 0.19% of Aris Mining as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gamco Investors INC. ET AL bought a new position in Aris Mining during the 2nd quarter worth about $121,000. Public Sector Pension Investment Board bought a new position in shares of Aris Mining during the third quarter worth about $148,000. Verde Servicos Internacionais S.A. acquired a new stake in Aris Mining in the 3rd quarter valued at approximately $196,000. Baader Bank Aktiengesellschaft bought a new stake in Aris Mining in the 3rd quarter valued at approximately $201,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Aris Mining during the 2nd quarter worth approximately $214,000. 35.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ARMN has been the topic of a number of recent research reports. Zacks Research upgraded shares of Aris Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research report on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $17.00.

Aris Mining Trading Up 3.9%

Shares of Aris Mining stock opened at $19.26 on Friday. The stock has a market cap of $3.96 billion, a P/E ratio of -963.05 and a beta of -0.55. The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. Aris Mining Co. has a 12-month low of $3.57 and a 12-month high of $21.98. The business’s 50 day moving average is $18.51 and its 200-day moving average is $13.61.

Aris Mining Profile

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.