Aris Mining (NYSE:ARMN) Shares Gap Down – Should You Sell?

Aris Mining Co. (NYSE:ARMN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $4.09, but opened at $3.90. Aris Mining shares last traded at $3.82, with a volume of 111,844 shares changing hands.

Aris Mining Stock Performance

The stock has a 50-day moving average of $4.45 and a 200 day moving average of $4.33. 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 $645.47 million, a price-to-earnings ratio of -189.50 and a beta of 0.35.

Hedge Funds Weigh In On Aris Mining

Several institutional investors have recently modified their holdings of the stock. Virtu Financial LLC grew its position in shares of Aris Mining by 66.6% during the 3rd quarter. Virtu Financial LLC now owns 22,279 shares of the company’s stock worth $102,000 after buying an additional 8,909 shares during the period. PDT Partners LLC bought a new position in shares of Aris Mining during the 3rd quarter valued at about $59,000. Banque Cantonale Vaudoise bought a new position in shares of Aris Mining during the 2nd quarter valued at about $51,000. International Assets Investment Management LLC bought a new position in shares of Aris Mining during the 3rd quarter valued at about $740,000. Finally, Centiva Capital LP bought a new position in shares of Aris Mining during the 3rd quarter valued at about $84,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

About Aris Mining

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.