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

Aris Mining (NYSE:ARMN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets reissued an “outperform” rating on shares of Aris Mining in a research note on Friday, January 23rd. National Bankshares reissued an “outperform” rating on shares of Aris Mining in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $17.00.

Aris Mining Price Performance

ARMN opened at $20.47 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13. The stock has a market capitalization of $4.21 billion, a P/E ratio of -1,023.50 and a beta of -0.55. The company’s 50 day simple moving average is $16.37 and its 200-day simple moving average is $11.56. Aris Mining has a one year low of $3.57 and a one year high of $21.98.

Hedge Funds Weigh In On Aris Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MMCAP International Inc. SPC raised its position in shares of Aris Mining by 45.1% in the 3rd quarter. MMCAP International Inc. SPC now owns 16,436,882 shares of the company’s stock valued at $161,109,000 after acquiring an additional 5,112,295 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Aris Mining in the second quarter valued at approximately $32,173,000. Arrowstreet Capital Limited Partnership increased its stake in Aris Mining by 152.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 4,207,221 shares of the company’s stock valued at $41,228,000 after purchasing an additional 2,542,740 shares in the last quarter. Merewether Investment Management LP acquired a new stake in Aris Mining in the third quarter worth $18,748,000. Finally, Amundi boosted its position in shares of Aris Mining by 3,670.1% during 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 in the last quarter. Institutional investors own 35.81% 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.