Aris Mining (NYSE:ARMN) Shares Gap Up – What’s Next?

Aris Mining Co. (NYSE:ARMN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.25, but opened at $4.46. Aris Mining shares last traded at $4.50, with a volume of 463,273 shares changing hands.

Aris Mining Trading Up 3.9 %

The firm has a market capitalization of $917.68 million, a price-to-earnings ratio of -267.00 and a beta of -0.46. The business’s 50-day moving average price is $4.24 and its 200 day moving average price is $4.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13.

Hedge Funds Weigh In On Aris Mining

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in shares of Aris Mining by 51.8% during the fourth quarter. Invesco Ltd. now owns 6,581,952 shares of the company’s stock worth $23,037,000 after acquiring an additional 2,245,775 shares during the last quarter. Ruffer LLP grew its stake in Aris Mining by 15.2% during the 4th quarter. Ruffer LLP now owns 5,687,273 shares of the company’s stock valued at $19,940,000 after purchasing an additional 751,473 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Aris Mining by 4.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,412,442 shares of the company’s stock worth $4,950,000 after purchasing an additional 55,917 shares during the last quarter. Deutsche Bank AG raised its position in shares of Aris Mining by 25.3% in the 4th quarter. Deutsche Bank AG now owns 1,088,616 shares of the company’s stock valued at $3,810,000 after purchasing an additional 219,810 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of Aris Mining by 12.8% in the 4th quarter. Alberta Investment Management Corp now owns 1,036,050 shares of the company’s stock valued at $3,631,000 after purchasing an additional 117,249 shares in the last quarter. Institutional investors and hedge funds 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.