Aris Mining (NYSE:ARIS) Releases Earnings Results, Beats Expectations By $0.08 EPS

Aris Mining (NYSE:ARIS) posted its earnings results on Wednesday. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.08, Zacks reports. Aris Mining had a net margin of 15.19% and a return on equity of 20.97%.

Aris Mining Stock Down 4.0%

NYSE ARIS traded down $0.58 during mid-day trading on Wednesday, reaching $13.89. 1,835,732 shares of the company’s stock traded hands, compared to its average volume of 1,671,461. The company has a current ratio of 1.78, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. Aris Mining has a 1-year low of $6.65 and a 1-year high of $23.29. The company has a fifty day simple moving average of $15.62 and a 200-day simple moving average of $17.77. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 16.53 and a beta of -0.22.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Aris Mining from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 23rd. Zacks Research upgraded Aris Mining from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Aris Mining currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Trading of Aris Mining

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in Aris Mining by 2.7% in the third quarter. Public Employees Retirement System of Ohio now owns 55,647 shares of the company’s stock valued at $546,000 after acquiring an additional 1,441 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Aris Mining in the 4th quarter worth about $27,000. Cetera Investment Advisers increased its position in shares of Aris Mining by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 88,214 shares of the company’s stock worth $593,000 after purchasing an additional 2,135 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Aris Mining in the 4th quarter valued at about $37,000. Finally, Geode Capital Management LLC raised its stake in shares of Aris Mining by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 89,102 shares of the company’s stock valued at $599,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 39.71% of the company’s stock.

Aris Mining Company 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.