Aris Mining (NYSE:ARMN) has been downgraded from a “strong-buy” rating to a “hold” rating by analysts at Zacks Research. This decision was noted in a research update issued on October 30, 2023. The downgrade reflects a shifting sentiment among analysts as several firms reassess their positions regarding the company.
In addition to Zacks Research, other financial institutions have recently provided insights on Aris Mining. BMO Capital Markets confirmed an “outperform” rating in a report released on the same day, while National Bankshares reiterated a similar rating in a note on November 3, 2023. Furthermore, Canaccord Genuity Group raised its target price for Aris Mining from $16.50 to $17.00 on September 4, 2023, maintaining a “buy” rating.
Currently, three equity research analysts have given Aris Mining a Buy rating, while one has assigned a Hold rating. According to data from MarketBeat, the company holds an average rating of “Moderate Buy” with a price target set at $17.00.
Institutional Investments Shift
Recent activity among institutional investors indicates a growing interest in Aris Mining’s stock. Several hedge funds have altered their holdings in the company. For instance, GWN Securities Inc. acquired a new stake valued at $76,000 during the second quarter. Vanguard Personalized Indexing Management LLC increased its position by 16.9%, owning 12,303 shares worth $83,000 after adding an additional 1,780 shares.
In the third quarter, Banque Cantonale Vaudoise purchased a new position valued at $93,000, while Insigneo Advisory Services LLC acquired shares worth $98,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its investment by 51.3%, now owning 11,800 shares worth $116,000. Institutional investors collectively hold 35.81% of Aris Mining’s stock.
About Aris Mining
Based in Vancouver, British Columbia, Aris Mining Corp is engaged in the exploration and development of mineral resources. The company focuses on a diverse portfolio of precious metals and lithium assets. Listed on the New York Stock Exchange under the ticker ARMN, Aris Mining adopts a disciplined strategy aimed at resource definition and project development to maximize shareholder value. Its principal assets include high-grade gold projects across multiple continents and a strategic lithium property located in the United States.
As analysts adjust their ratings and investors modify their positions, the future trajectory of Aris Mining remains closely watched by market participants.
