Cormark Has Negative Outlook of Aris Mining FY2024 Earnings

Aris Mining Co. (NYSE:ARMN) – Equities researchers at Cormark reduced their FY2024 earnings estimates for Aris Mining in a research report issued on Friday, January 17th. Cormark analyst R. Gray now expects that the company will post earnings per share of $0.37 for the year, down from their prior estimate of $0.40. The consensus estimate for Aris Mining’s current full-year earnings is $0.36 per share. Cormark also issued estimates for Aris Mining’s Q1 2025 earnings at $0.20 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.20 EPS and FY2025 earnings at $0.95 EPS.

Aris Mining (NYSE:ARMN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $134.72 million for the quarter. Aris Mining had a negative net margin of 0.66% and a positive return on equity of 4.97%.

Aris Mining Price Performance

Shares of ARMN opened at $3.71 on Monday. Aris Mining has a twelve month low of $2.60 and a twelve month high of $5.16. 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 $3.78 and a 200 day moving average of $4.22. The company has a market capitalization of $634.45 million, a P/E ratio of -185.50 and a beta of 0.15.

Institutional Investors Weigh In On Aris Mining

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARMN. Van ECK Associates Corp boosted its stake in shares of Aris Mining by 144.7% during the 3rd quarter. Van ECK Associates Corp now owns 15,932,334 shares of the company’s stock worth $74,780,000 after acquiring an additional 9,422,597 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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. American Century Companies Inc. lifted its stake in shares of Aris Mining by 44.6% during the 2nd quarter. American Century Companies Inc. now owns 1,410,505 shares of the company’s stock valued at $5,330,000 after buying an additional 435,277 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Aris Mining by 60.4% during the 3rd quarter. Stifel Financial Corp now owns 540,544 shares of the company’s stock valued at $2,486,000 after buying an additional 203,586 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Aris Mining by 55.3% during the 3rd quarter. Jane Street Group LLC now owns 411,553 shares of the company’s stock valued at $1,908,000 after buying an additional 146,580 shares in the last quarter. 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.