Research Analysts Set Expectations for Aris Mining Co.’s Q3 2024 Earnings (NYSE:ARMN)

Aris Mining Co. (NYSE:ARMN) – Equities researchers at Cormark dropped their Q3 2024 earnings per share (EPS) estimates for shares of Aris Mining in a report released on Wednesday, October 9th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.16 for the quarter, down from their prior forecast of $0.26. The consensus estimate for Aris Mining’s current full-year earnings is $0.52 per share. Cormark also issued estimates for Aris Mining’s Q4 2024 earnings at $0.19 EPS, FY2024 earnings at $0.47 EPS, FY2025 earnings at $1.20 EPS and FY2026 earnings at $1.98 EPS.

Aris Mining Stock Up 0.7 %

Shares of ARMN opened at $4.49 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.52 and a debt-to-equity ratio of 0.31. Aris Mining has a 12-month low of $2.31 and a 12-month high of $5.16. The firm has a market cap of $764.69 million and a P/E ratio of 56.13. The company’s 50-day moving average price is $4.48 and its 200 day moving average price is $4.21.

Aris Mining (NYSE:ARMN) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The business had revenue of $117.19 million during the quarter. Aris Mining had a net margin of 2.46% and a return on equity of 6.00%.

Institutional Trading of Aris Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC grew its holdings in 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 purchasing an additional 2,570,400 shares during the period. American Century Companies Inc. boosted its stake in Aris Mining by 44.6% in the 2nd quarter. American Century Companies Inc. now owns 1,410,505 shares of the company’s stock worth $5,330,000 after buying an additional 435,277 shares during the last quarter. Van ECK Associates Corp boosted its stake in Aris Mining by 6.8% in the 2nd quarter. Van ECK Associates Corp now owns 6,509,737 shares of the company’s stock worth $24,604,000 after buying an additional 414,651 shares during the last quarter. Herr Investment Group LLC bought a new stake in shares of Aris Mining in the 1st quarter worth $670,000. Finally, TD Asset Management Inc bought a new stake in shares of Aris Mining in the 2nd quarter worth $494,000. 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.