Aris Mining's Solid 1H Gold Output Set the Stage for a Strong 2025

Aris Mining Corporation ARMN recently reported a solid 13% year-over-year increase in gold production, reaching 113,415 ounces in the first half of 2025. This growth underscores the Latin America-focused gold mining company’s operational strength and positions it favorably to achieve its full-year production target. 

The Segovia Operations in Colombia, a cornerstone of Aris Mining's portfolio, saw a 12% year-over-year rise in production to 99,076 ounces in the first half. Also, the Colombia-based Marmato Upper Mine produced 14,339 ounces, marking a 26% increase from a year ago. For the second quarter, consolidated gold production was up 7% year over year to 58,652 ounces.

Production rates are expected to crank up in the second half of 2025 following the recent completion of the installation and commissioning of the Segovia plant expansion, which would lead to an increase in Segovia's processing capacity by 50% to 3,000 tons per day. With this milestone, ARMN is on course to attain its full-year production target of 230,000-275,000 ounces. Production for 2025 is expected to be weighted toward the second half, reflecting the uptick in milling capacity at Segovia. As ARMN progresses with its expansion initiatives, it is well-placed to achieve its ambitious production targets and strengthen its standing in the Latin American gold mining industry.

Among its peers with exposure in Colombia, B2Gold Corp. BTG recorded a consolidated gold production of 192,752 ounces for the first quarter, down around 10% year over year on declines across Fekola and Masbate mines, more than offsetting gains at Otjikoto. However, the figure was higher than B2Gold’s expectation. B2Gold remains on track to meet total gold production expectations of 970,000-1,075,000 ounces for 2025. 

AngloGold Ashanti plc AU saw a 22% year-over-year surge in gold production to 720,000 ounces, its strongest first-quarter production since the first quarter of 2020. The upside was driven by strong performance from AngloGold Ashanti’s managed operations with solid gains at Siguiri, Cerro Vanguardia and the Australian operations. AngloGold Ashanti expects consolidated gold production between 2.900 million ounces and 3.225 million ounces for 2025.

ARMN’s Price Performance, Valuation & Estimates

Shares of Aris Mining have shot up 103.4% year to date compared with the Zacks Mining – Gold industry’s rise of 53.4%, thanks to a surge in gold prices.

From a valuation standpoint, ARMN is currently trading at a forward 12-month earnings multiple of 4.52, a roughly 64.2% discount to the industry average of 12.64X. It carries a Value Score of A.

The Zacks Consensus Estimate for ARMN’s 2025 and 2026 earnings implies a year-over-year rise of 244.1% and 73.1%, respectively. The EPS estimates for 2025 and 2026 have been trending higher over the past 60 days.

ARMN currently has a Zacks Rank #2 (Buy). 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

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

Zacks Investment Research