Aris Mining (NYSE:ARMN) Trading Down 5.1%

Shares of Aris Mining Co. (NYSE:ARMN) fell 5.1% during mid-day trading on Monday . The stock traded as low as $4.79 and last traded at $4.79. 780,358 shares changed hands during trading, an increase of 192% from the average session volume of 266,810 shares. The stock had previously closed at $5.05.

Aris Mining Price Performance

The company’s 50 day moving average price is $4.36 and its 200-day moving average price is $4.04. The stock has a market cap of $786.90 million and a P/E ratio of 93.00. 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 released its quarterly earnings results on Tuesday, August 13th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business 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%. As a group, sell-side analysts expect that Aris Mining Co. will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On Aris Mining

Several large investors have recently modified their holdings of ARMN. International Assets Investment Management LLC bought a new position in Aris Mining during the fourth quarter worth $380,000. Banque Cantonale Vaudoise bought a new position in Aris Mining during the second quarter worth $51,000. Virtu Financial LLC bought a new position in Aris Mining during the first quarter worth $79,000. Quadrature Capital Ltd bought a new position in Aris Mining during the first quarter worth $165,000. Finally, Mackenzie Financial Corp bought a new position in Aris Mining during the second quarter worth $220,000. Institutional investors own 35.81% of the company’s stock.

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.