Aris Mining (NYSE:ARMN) Shares Gap Up to $4.83

Aris Mining Co. (NYSE:ARMN)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.83, but opened at $5.00. Aris Mining shares last traded at $4.94, with a volume of 35,355 shares changing hands.

Aris Mining Stock Performance

The business has a 50 day moving average price of $4.37 and a two-hundred day moving average price of $4.05. The stock has a market cap of $841.33 million and a P/E ratio of 96.60. The company has a quick ratio of 1.52, a current ratio of 1.88 and a debt-to-equity ratio of 0.31.

Aris Mining (NYSE:ARMN) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The company had revenue of $117.19 million for the quarter. Aris Mining had a net margin of 2.46% and a return on equity of 6.00%. On average, sell-side analysts forecast that Aris Mining Co. will post 0.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new stake in Aris Mining during the second quarter valued at $51,000. Virtu Financial LLC purchased a new stake in shares of Aris Mining during the 1st quarter valued at about $79,000. Quadrature Capital Ltd bought a new position in shares of Aris Mining in the 1st quarter valued at about $165,000. Mackenzie Financial Corp purchased a new position in Aris Mining in the second quarter worth about $220,000. Finally, TD Asset Management Inc bought a new stake in Aris Mining during the second quarter worth approximately $494,000. Hedge funds and other institutional investors own 35.81% of the company’s stock.

Aris Mining Company Profile

Aris Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana. It also explores for silver and copper deposits. The company was formerly known as GCM Mining Corp. and changed its name to Aris Mining Corporation in September 2022.