Aris Mining (NYSE:ARMN) Shares Gap Up – Here’s Why

Aris Mining Co. (NYSE:ARMN) gapped up before the market opened on Thursday . The stock had previously closed at $4.06, but opened at $4.19. Aris Mining shares last traded at $4.34, with a volume of 189,917 shares changing hands.

Aris Mining Stock Performance

The stock has a market cap of $756.14 million, a P/E ratio of -220.00 and a beta of 0.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.45 and a quick ratio of 1.13. The company has a fifty day moving average price of $3.85 and a 200 day moving average price of $4.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Aigen Investment Management LP boosted its holdings in Aris Mining by 192.1% during the 3rd quarter. Aigen Investment Management LP now owns 36,241 shares of the company’s stock valued at $168,000 after acquiring an additional 23,833 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in Aris Mining by 6.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,503,600 shares of the company’s stock valued at $11,587,000 after buying an additional 160,500 shares in the last quarter. Quantbot Technologies LP bought a new position in Aris Mining during the 3rd quarter valued at approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Aris Mining in the 3rd quarter worth $129,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Aris Mining in the 3rd quarter worth $600,000. 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.