Aris Mining (NYSE:ARMN) Price Target Raised to $17.00 at Canaccord Genuity Group

Aris Mining (NYSE:ARMN) had its price target increased by Canaccord Genuity Group from $16.50 to $17.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 85.19% from the stock’s previous close.

ARMN has been the topic of a number of other research reports. Zacks Research downgraded Aris Mining from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, August 21st. National Bankshares reissued an “outperform” rating on shares of Aris Mining in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Aris Mining has a consensus rating of “Hold” and a consensus target price of $17.00.

Aris Mining Stock Up 3.0%

ARMN opened at $9.18 on Thursday. Aris Mining has a 12 month low of $3.29 and a 12 month high of $9.58. The stock’s 50 day moving average price is $7.40 and its 200 day moving average price is $6.07. 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 cap of $1.86 billion, a P/E ratio of -459.00 and a beta of -0.34.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Aris Mining during the 1st quarter worth about $76,000. GWN Securities Inc. bought a new position in shares of Aris Mining in the second quarter valued at about $76,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of Aris Mining by 16.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,303 shares of the company’s stock valued at $83,000 after purchasing an additional 1,780 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Aris Mining during the first quarter worth $116,000. Finally, Virtu Financial LLC acquired a new position in Aris Mining during the 1st quarter valued at about $117,000. 35.81% of the stock is currently owned by institutional investors and hedge funds.

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.