Aris Mining (NYSE:ARIS) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Aris Mining (NYSE:ARIS) from a hold rating to a strong sell rating in a report issued on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. Weiss Ratings raised Aris Mining from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aris Mining presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Aris Mining Stock Down 6.1%

ARIS stock opened at $17.04 on Monday. The company has a market cap of $3.52 billion, a PE ratio of 20.28 and a beta of -0.35. The business has a 50-day simple moving average of $18.88 and a 200 day simple moving average of $17.10. Aris Mining has a 52 week low of $5.90 and a 52 week high of $23.29. The company has a quick ratio of 1.62, a current ratio of 1.78 and a debt-to-equity ratio of 0.30.

Aris Mining (NYSE:ARIS) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.05). The company had revenue of $372.48 million during the quarter. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%. Sell-side analysts anticipate that Aris Mining will post 2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARIS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Aris Mining by 96.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 521,597 shares of the company’s stock worth $2,410,000 after acquiring an additional 256,022 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Aris Mining by 31.0% during the first quarter. Goldman Sachs Group Inc. now owns 706,876 shares of the company’s stock worth $3,280,000 after acquiring an additional 167,212 shares in the last quarter. Geode Capital Management LLC raised its stake in Aris Mining by 3.0% during the second quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock worth $599,000 after acquiring an additional 2,617 shares in the last quarter. Cetera Investment Advisers raised its stake in Aris Mining by 2.5% during the second quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after acquiring an additional 2,135 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Aris Mining in the second quarter valued at approximately $548,000. Institutional investors and hedge funds own 39.71% of the company’s stock.

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.