Investment firm Zacks Research downgraded Aris Mining (NYSE:ARMN) from a “strong-buy” rating to a “hold” rating in a note published on October 31, 2023. This change follows a trend of mixed evaluations from various research firms regarding the company’s stock.
On October 30, 2023, BMO Capital Markets reaffirmed an “outperform” rating for Aris Mining. Similarly, National Bankshares also issued an “outperform” rating on November 3, 2023. In a more optimistic move, Canaccord Genuity Group raised its target price for Aris Mining from $16.50 to $17.00 while maintaining a “buy” rating in a report released on September 4, 2023.
Currently, three equities research analysts have rated Aris Mining with a “buy” rating, while one has assigned a “hold” rating. Data from MarketBeat indicates that the company has an average rating of “Moderate Buy” and an average price target of $17.00.
Institutional Investments in Aris Mining
Recent changes in institutional holdings reflect growing interest in Aris Mining. GWN Securities Inc. acquired a new stake during the second quarter, valued at approximately $76,000. Meanwhile, Vanguard Personalized Indexing Management LLC increased its position by 16.9%, owning 12,303 shares valued at $83,000 after purchasing an additional 1,780 shares.
In the third quarter, Banque Cantonale Vaudoise and Insigneo Advisory Services LLC also entered new positions in Aris Mining, valued at $93,000 and $98,000, respectively. Towarzystwo Funduszy Inwestycyjnych PZU SA bolstered its holdings by 51.3%, bringing its total to 11,800 shares worth $116,000 after acquiring an additional 4,000 shares during the same period. Institutional investors now hold 35.81% of Aris Mining’s stock, showcasing a robust interest from large financial entities.
Overview of Aris Mining
Based in Vancouver, British Columbia, Aris Mining Corp focuses on exploring and developing a diverse portfolio of precious metals and lithium assets. The company is listed on the New York Stock Exchange under the ticker ARMN. Aris Mining employs a disciplined approach to resource definition and project development, aiming to create value for its shareholders. Its key assets include several high-grade gold projects across multiple continents, alongside a strategic lithium property in the United States.
Investors and analysts will continue to monitor developments relating to Aris Mining as the market adjusts to recent rating changes and institutional activities.
