Aris Mining (NYSE:ARMN) Shares Gap Down – What’s Next?

Shares of Aris Mining Co. (NYSE:ARMN) gapped down prior to trading on Monday . The stock had previously closed at $3.54, but opened at $3.29. Aris Mining shares last traded at $3.41, with a volume of 97,158 shares changing hands.

Aris Mining Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.13 and a debt-to-equity ratio of 0.32. The stock has a market cap of $584.87 million, a price-to-earnings ratio of -171.00 and a beta of -0.20. The stock’s 50 day moving average is $4.08 and its two-hundred day moving average is $4.25.

Hedge Funds Weigh In On Aris Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in ARMN. Virtu Financial LLC increased its holdings in Aris Mining by 66.6% during the 3rd quarter. Virtu Financial LLC now owns 22,279 shares of the company’s stock valued at $102,000 after acquiring an additional 8,909 shares in the last quarter. Barclays PLC lifted its holdings in shares of Aris Mining by 1,344.0% during the 3rd quarter. Barclays PLC now owns 34,656 shares of the company’s stock worth $160,000 after acquiring an additional 32,256 shares during the period. Geode Capital Management LLC purchased a new position in Aris Mining during the third quarter worth approximately $360,000. XTX Topco Ltd acquired a new stake in shares of Aris Mining during the 3rd quarter worth $129,000. Finally, National Bank of Canada FI raised its holdings in shares of Aris Mining by 180.6% in the 3rd quarter. National Bank of Canada FI now owns 145,048 shares of the company’s stock worth $667,000 after purchasing an additional 93,357 shares during the period. Hedge funds and other 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.