Shares of Aris Mining Corporation ARMN have been showing some decent gains of late, rising 56.8% in the past three months. The gold producer has outperformed the industry’s and the S&P 500 composite’s growth of 33.4% and 3.2%, respectively. In contrast, the company’s peers, Newmont Corporation NEM and Agnico Eagle Mines Limited AEM, have gained 39.5% and 26.8%, respectively, over the same time frame.

ARMN Outperforms Industry, S&P 500 & PeersZacks Investment Research

Image Source: Zacks Investment Research

The stock is trading above both its 50-day and 200-day moving averages, indicating solid upward momentum and price stability. This reflects a positive market sentiment and confidence in the company's financial health and long-term prospects.

ARMN Shares Trading Above 50-Day and 200-Day SMAZacks Investment Research

Image Source: Zacks Investment Research

Factors Shaping the Company’s Performance

Aris Mining is benefiting from its strength in the Latin American gold mining sector, enhanced operations and expansion-focused initiatives. In third-quarter 2025, the company produced 73,236 ounces of gold, up 36.6% on a year-over-year basis. This brings total production for the first nine months of 2025 to 186,651 ounces, taking ARMN close to its 2025 production guidance of 230,000-275,000 ounces.

The strong growth in production is primarily driven by the Segovia mine, following the commissioning of its second mill. The added capacity helped Segovia to increase its processing strength significantly. During the third quarter, the mine processed 219,550 tonnes of gold ore, an increase of 31.6% year over year.

ARMN acquired the remaining 49% stake in the Soto Norte joint venture from MDC Industry Holding Company LLC in Colombia. The acquisition led Aris Mining to be the sole owner of the Soto Norte project, where a pre-feasibility study (done in September 2025) reconfirmed the project as one of the most attractive undeveloped gold assets in the Americas.

Also, the company’s Marmato upper mine continues steady production and the development of the Bulk Mining Zone is progressing, with first gold exploration expected in the second half of this year. In the third quarter, the Marmato mine processed gold of 75,220 tonnes, higher than 70,256 tonnes in the year-ago quarter.

Despite the positives, ARMN has been grappling with escalating costs and expenses over time. In the third quarter, the company reported an increase in its all-in-sustaining costs (AISC) per ounce, a key indicator of cost efficiency in mining. The Segovia Operations in Colombia reported AISC of $1,641 per ounce, reflecting an increase from $1,540 in the year-ago quarter, due to higher sustaining capital expenditures. The company’s consolidated AISC was also up 6.6% year over year to $1,641 per ounce.

Story Continues

Valuation

From a valuation standpoint, Aris Mining is trading at a forward price-to-earnings ratio of 6.46X compared with the industry average of 14.05X. The stock is also cheaper than both of its peers, Newmont and Agnico Eagle Mines. Notably, Newmont and Agnico Eagle Mines are currently trading at 14.71X and 16.86X, respectively.Zacks Investment Research

Image Source: Zacks Investment Research

ARMN's Estimate Revisions

Earnings estimates for the company have moved north over the past 60 days, reflecting analysts’ optimism. 

The Zacks Consensus Estimate for ARMN’s earnings for 2026 has increased 3.7% to $1.40 per share in the past 60 days. Also, the consensus estimate for its 2027 earnings has increased 13.6% to $2.68 per share.Zacks Investment Research

Image Source: Zacks Investment Research

Conclusion

ARMN is poised to benefit from several long-term growth projects and strength in acquired assets. However, near-term challenges, including rising operating costs and higher AISC, are limiting this Zacks Rank #3 (Hold) company’s near-term prospects.

While current shareholders should hold their positions, new investors should wait for the stock to retract some of its recent gains and provide a better entry point. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Newmont Corporation (NEM):Free Stock Analysis Report

Agnico Eagle Mines Limited (AEM):Free Stock Analysis Report

Aris Mining Corporation (ARMN):Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

View Comments