Bull of the Day: Aris Mining (ARMN)

Aris Mining Corp. ARMN is cashing in on record gold prices as it ramps up gold production. This Zacks Rank #1 (Strong Buy) is expected to see double digit earnings growth in 2026 after triple digit growth in 2025.

Aris Mining is a small cap gold mining company with a market cap of $2 billion. Founded in Sep 2022, it is headquartered in Vancouver, Canada. Its vision is to build a leading South America focused gold mining company.

Aris Mining currently operates two underground gold mines in Colombia: the Segovia Operations and the Marmato Complex which produced a total of 210,955 ounces of gold in 2024.

Expansion is underway and Aris Mining is targeting an annual production rate of more than 500,000 ounces of gold, following the commissioning of a second mill at Segovia, which is ramping up during H2 2025, and the Bulk Mining Zone at the Marmato Complex, expected to start ramping up production in H2 2026.

The company also owns 51% of the Soto Norte joint venture in Colombia and it owns the Toroparu gold/copper project in Guyana which is in a prefeasibility stage.

Aris Mining Reports a Record Third Quarter 2025

On Oct 29, 2025, Aris Mining reported its third quarter results, and it beat on the Zacks Consensus Estimate by $0.09. It reported $0.37 versus the Zacks Consensus of $0.27. That was record earnings.

Revenue was up 93% to a record $253.5 million from a year ago and was also up 24% quarter-over-quarter driven by higher gold prices and increased sales volumes.

The record gold price doesn’t matter much if the miner can’t get it out of the ground. Aris Mining’s gold production was up 25% to 73,236 oz from the second quarter due to the commissioning of the second mine at Segovia in June 2025.

Segovia had strong third quarter AISC margin growth up 39% to $121.5 million from $87.2 million in Q2.

Aris Mining Provides Strong Gold Production Guidance

Aris gave full year 2025 gold production guidance at Segovia, its flagship mine, between 210,000 to 250,000 oz. It is tracking for the midpoint of that guidance.

For 2026, it is targeting 300,000 oz.

Analysts are Bullish on Aris Mining for 2025 and 2026

Zacks has just 2 analysts for Aris Mining, but both have revised earnings estimates up for both 2025 and 2026 in the last 60 days.

The 2025 Zacks Consensus Estimate is now expected to be $1.23, which is earnings growth of 261% as the company made just $0.34 last year.

The good times are expected to continue in 2026 too with another 65.9% earnings growth on earnings of $2.04.

Here’s what it looks like on the price and consensus chart.

Shares of Aris Mining Soar on Record Gold Prices and Rising Production

Record gold prices and rising production are a bullish combination for a gold miner and Aris Mining has it.

Shares of Aris Mining are up 197% year-to-date and are near their all-time high.

But it’s still cheap. Aris trades with a forward price-to-earnings (P/E) ratio of just 8.4.

It also reduced net debt to just $64 million in the third quarter, down from $241 million at year end 2024.

Aris has plenty of cash on hand. It’s cash balance rose to $417.9 million from $310.2 million as of June 30, 2025.

If you want a junior miner that is increasing production, has strong free cash flow, and is still cheap, Aris Mining should be on your short list.

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

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