Aris Mining (NYSE:ARMN) Shares Down 3% – Here’s Why

Aris Mining Co. (NYSE:ARMN) shares dropped 3% during mid-day trading on Monday . The company traded as low as $4.49 and last traded at $4.50. Approximately 241,801 shares traded hands during trading, a decline of 35% from the average daily volume of 371,502 shares. The stock had previously closed at $4.64.

Aris Mining Price Performance

The firm has a market capitalization of $815.78 million and a PE ratio of 60.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.88 and a quick ratio of 1.52. The company has a 50-day moving average price of $4.62 and a 200-day moving average price of $4.30.

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 the consensus estimate of $0.15 by ($0.07). Aris Mining had a net margin of 2.46% and a return on equity of 6.00%. The company had revenue of $117.19 million for the quarter. Sell-side analysts forecast that Aris Mining Co. will post 0.52 EPS for the current year.

Institutional Trading of Aris Mining

Hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in Aris Mining in the second quarter worth about $51,000. International Assets Investment Management LLC bought a new stake in shares of Aris Mining in the 3rd quarter worth approximately $740,000. Virtu Financial LLC acquired a new position in shares of Aris Mining in the 1st quarter valued at $79,000. Quadrature Capital Ltd purchased a new position in shares of Aris Mining in the first quarter worth approximately $165,000. Finally, Mackenzie Financial Corp acquired a new stake in Aris Mining during the 2nd quarter valued at $220,000. Institutional investors and hedge funds 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.