Aris Mining Maintained at Outperform at BMO as Q3 Production Lags Expectations; Price Target Cut to C$9.00

MT Newswires Live

Oct 09, 2024

BMO Capital Markets on Wednesday maintained its outperform rating on the shares of Aris Mining (ARIS.TO) while lowering its price target to C$9.00 from an undisclosed prior level after the company reported weaker than expected third-quarter results.

"ARIS reported Q3/24 gold production of ~54koz, which missed expectations (BMOe 64koz; consensus 61koz). Due to the lower-than-expected production the company decreased 2024 production guidance at Segoviato 185koz-195koz from 200-220koz. The company also provided an updated mineral resource estimate at Segovia highlighted by a total reserve and resource inventory increase of ~9%. Lastly, the company provided positive construction updates on the Segovia and Marmato expansions. We maintain our Outperform rating but lower our target price to C$9.00," analyst Brian Quast noted.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 5.89, Change: -0.06, Percent Change: -1.01

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Research providers may contact us here: https://www.mtnewswires.com/contact-us)</p><p>Price: 5.89, Change: -0.06, Percent Change: -1.01</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BMO","symbol_name":"蒙特利尔银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2474278115","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474278115","pubTimestamp":1728488704,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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