Brokers Issue Forecasts for Aris Mining FY2024 Earnings

Aris Mining Co. (NYSE:ARMN - Free Report) - Research analysts at National Bank Financial dropped their FY2024 EPS estimates for Aris Mining in a report issued on Tuesday, October 22nd. National Bank Financial analyst D. Demarco now forecasts that the company will post earnings of $0.39 per share for the year, down from their previous estimate of $0.40. The consensus estimate for Aris Mining's current full-year earnings is $0.52 per share.

Aris Mining Price Performance

Shares of NYSE ARMN traded down $0.09 during trading hours on Friday, reaching $4.62. 316,737 shares of the stock traded hands, compared to its average volume of 372,126. The company has a market capitalization of $786.83 million and a P/E ratio of 57.75. The company's 50-day simple moving average is $4.61 and its two-hundred day simple moving average is $4.27. 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 has a 52-week low of $2.32 and a 52-week high of $5.16.

Aris Mining (NYSE:ARMN - Get Free Report) last issued 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 firm had revenue of $117.19 million for the quarter. Aris Mining had a return on equity of 6.00% and a net margin of 2.46%.

Hedge Funds Weigh In On Aris Mining

Several institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC purchased a new stake in Aris Mining during the 3rd quarter valued at about $740,000. Mackenzie Financial Corp purchased a new stake in shares of Aris Mining during the second quarter valued at approximately $220,000. American Century Companies Inc. grew its holdings in shares of Aris Mining by 44.6% in the second quarter. American Century Companies Inc. now owns 1,410,505 shares of the company's stock worth $5,330,000 after purchasing an additional 435,277 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Aris Mining by 192.1% in the second quarter. Acadian Asset Management LLC now owns 3,908,717 shares of the company's stock worth $14,738,000 after buying an additional 2,570,400 shares during the period. Finally, TD Asset Management Inc bought a new stake in Aris Mining during the 2nd quarter valued at $494,000. 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.