Aris Mining's Key Projects Progress: Can Momentum Sustain Growth?

Aris Mining Corporation ARMN is advancing key development projects that are expected to support future production growth. In the third quarter of 2025, the company produced a total of 73,236 ounces of gold, increasing 36.6% on a year-over-year basis. The results were driven by Segovia mine’s improved performance following the commissioning of its second mill. This expansion enhanced Segovia’s processing capacity and boosted output, making it the primary driver of ARMN’s performance. The Segovia mine processed 219,550 tons of gold in the third quarter, up 31.6% year over year.

The Segovia operations support near-term results, with Marmato positioned as the key catalyst for long-term growth. While the Marmato upper mine continues steady production, development of the bulk mining zone is progressing, with first gold exploration expected in the second half of 2026. Once operational, the project is well-positioned to increase output and diversify Aris Mining’s production base. It is worth noting that the Marmato mine processed 75,220 tons of gold in the third quarter compared with 70,256 tons in the year-ago quarter.

Overall, continued progress at the Segovia and Marmato operations positions ARMN for a potential transformation over time. With this steady momentum, Aris Mining remains well-positioned for growth in the coming quarters.

Snapshot of Aris Mining’s Peers

Among its major peers, Barrick Mining Corporation B continues to prioritize high-return investments, especially in Nevada, supported by successful exploration and ongoing project executions. Barrick Mining’s merger with Randgold strengthened its industry position, providing top-tier assets and notable synergies with Newmont in the Nevada joint venture. However, operational issues across certain mines are expected to lead to lower gold production in 2025, impacting Barrick Mining’s performance.

ARMN’s other peer, B2Gold Corp. BTG, is gaining from its ongoing strategy of maximizing profitable mine production, and moving forward with its remaining development and exploration projects. A pickup in mine performance is expected to aid B2Gold’s gold production in the coming years. Production at Fekola is likely to increase in 2025, which also bodes well for B2Gold.

ARMN’s Price Performance, Valuation & Estimates

Shares of Aris Mining have skyrocketed 336.8% in the past year compared with the industry’s growth of 139.6%.

From a valuation standpoint, Aris Mining is trading at a forward price-to-earnings ratio of 7.19X compared with the industry’s average of 13.47X. ARMN carries a Value Score of C.

The Zacks Consensus Estimate for Aris Mining’s earnings has remained steady over the past 30 days.

The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

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

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