Aris Mining (NYSE:ARMN) Trading Down 4.8% – Here’s What Happened

Aris Mining Co. (NYSE:ARMN) shares were down 4.8% during mid-day trading on Thursday . The company traded as low as $3.94 and last traded at $3.94. Approximately 61,991 shares were traded during trading, a decline of 84% from the average daily volume of 377,856 shares. The stock had previously closed at $4.14.

Aris Mining Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.45 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average of $4.27 and a 200 day moving average of $4.30. The stock has a market capitalization of $648.13 million, a P/E ratio of -189.50 and a beta of -0.20.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARMN. Banque Cantonale Vaudoise bought a new position in shares of Aris Mining during the second quarter valued at $51,000. Van ECK Associates Corp boosted its position in Aris Mining by 6.8% in the second quarter. Van ECK Associates Corp now owns 6,509,737 shares of the company’s stock valued at $24,604,000 after buying an additional 414,651 shares in the last quarter. TD Asset Management Inc bought a new stake in Aris Mining during the second quarter worth about $494,000. Acadian Asset Management LLC increased its holdings in shares of Aris Mining by 192.1% during 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 in the last quarter. Finally, American Century Companies Inc. raised its stake 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 valued at $5,330,000 after acquiring an additional 435,277 shares during the last quarter. Institutional investors 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.