Analysts Issue Forecasts for Aris Mining Co.’s Q1 2024 Earnings (NYSE:ARMN)

Aris Mining Co. (NYSE:ARMN) – Cormark cut their Q1 2024 earnings per share estimates for shares of Aris Mining in a report issued on Wednesday, April 17th. Cormark analyst R. Gray now anticipates that the company will post earnings per share of $0.14 for the quarter, down from their previous forecast of $0.17. The consensus estimate for Aris Mining’s current full-year earnings is $0.63 per share. Cormark also issued estimates for Aris Mining’s FY2024 earnings at $0.64 EPS and FY2025 earnings at $1.31 EPS.

Aris Mining (NYSE:ARMN) last released its quarterly earnings data on Wednesday, March 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). The firm had revenue of $124.98 million for the quarter. Aris Mining had a return on equity of 8.73% and a net margin of 2.09%.

Separately, TheStreet downgraded Aris Mining from a “c” rating to a “d+” rating in a report on Monday, March 18th.

Aris Mining Trading Up 3.4 %

ARMN opened at $3.68 on Thursday. The stock’s fifty day moving average is $3.26 and its two-hundred day moving average is $3.00. The company has a market capitalization of $520.43 million and a P/E ratio of 184.00. Aris Mining has a 52 week low of $2.16 and a 52 week high of $3.86. The company has a quick ratio of 1.86, a current ratio of 2.15 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC purchased a new position in shares of Aris Mining in the 4th quarter valued at $380,000. Scotia Capital Inc. purchased a new position in Aris Mining during the 3rd quarter worth $27,000. Sprott Inc. purchased a new position in Aris Mining during the 3rd quarter worth $33,000. Citadel Advisors LLC purchased a new position in Aris Mining during the 4th quarter worth $56,000. Finally, Private Advisor Group LLC purchased a new position in Aris Mining during the 3rd quarter worth $45,000. 35.81% of the stock is currently owned by hedge funds and other institutional investors.

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.