Loading page content
Rank #46 · TSX:ARIS
Mid-Tier Producer · Primary: Gold
Canada · Jurisdictions: Colombia, Guyana
Canonical listing price
$17.33
+3.40%(+0.57 USD)
Updated 10/9/2026, 1:30:00 PM
Price data: Twelve Data
Gold · Mid-Tier Producer
vs Gold
1M -6.8 pp·3M +27.0 pp
vs GDX
1M -3.7 pp·3M +0.4 pp
1M vs Gold Miners group: -3.6 pp
Jurisdiction: Colombia, Guyana · Market cap rank-only (licensing)
Close-based returns and relative performance in percentage points vs mapped metal/ETF. Not a buy/sell signal or price target.
Next report
Reporting calendar →FY2026 · Expected window 2028-03-02 → 2028-03-16
Expected window 2028-03-02 → 2028-03-16 (FY2026).
Valuation
Current market multiples relative to reported TTM financials. Peer context uses the Mining 50 Gold · Mid-Tier Producer group. Not fair value, price targets, or investment advice.
Historical Valuation
Point-in-time multiples at annual filing dates using prices and financials publicly available as of each date. Percentiles and medians use available history only — descriptive context, not fair value or investment advice.
P/FCF
EV/FCF
Historical chart
Each point is a filing-date snapshot — not a continuous daily valuation series.
Filing-date periodic snapshots · 5 observations · price source: Twelve Data
MINING50-HISTORICAL-VALUATION-1.0 · filing-date periodic
Balance Sheet & Capital Allocation
Annual FY trends from certified filing data. Descriptive direction and magnitude only — not a quality score or investment recommendation.
Cash
$391.87M
+$139.34M YoY (+55.2%)
Debt
$519.46M
+$3.23M YoY (+0.6%)
Net Debt
Net Debt: $127.59M
$-136.11M YoY (-51.6%)
Share Count
205.5M
+34.5M shares YoY (+20.2%)
Capex / Revenue
26.3%
Prior year: 35.5%
FCF Conversion
34.6%
Prior year: -28.5%
FCF (FY)
$129.07M
+$169.28M YoY (+421.0%)
Cash Build
Cash increased $139.34M (+55.2%) versus the prior year.
2024-12-31 → 2025-12-31
Share Count Change
Shares outstanding increased 20.2% year over year.
2024-12-31 → 2025-12-31
Higher Capex
Capital expenditures increased from $181.45M to $243.91M.
2024-12-31 → 2025-12-31
Operating Performance
Annual FY revenue, cash flow, capex, and margins from certified filing data. Descriptive trends only — not a quality score or investment recommendation.
Revenue
$927.66M
+$417.06M YoY (+81.7%)
Operating Cash Flow
$372.97M
+$231.74M YoY (+164.1%)
Free Cash Flow
$129.07M
Free cash flow moved from $-40.21M to $129.07M.
Capex
$243.91M
+$62.46M YoY (+34.4%)
3-year revenue change: +131.9% over 3 years
OCF Margin
40.2%
Prior year: 27.7%
Change: +12.5 pp
FCF Margin
13.9%
Prior year: -7.9%
Change: +21.8 pp
Capex / Revenue
26.3%
Prior year: 35.5%
Revenue Increase
Revenue increased 81.7% versus the prior comparable period.
2024-12-31 → 2025-12-31
Operating Cash Flow Increase
Operating cash flow increased $231.74M (+164.1%) versus the prior comparable period.
2024-12-31 → 2025-12-31
Free Cash Flow Turned Positive
Free cash flow moved from $-40.21M to $129.07M.
2024-12-31 → 2025-12-31
Higher Capital Spending
Capital expenditures increased from $181.45M to $243.91M.
2024-12-31 → 2025-12-31
OCF Margin Increase
Operating cash flow margin moved from 27.7% to 40.2% (+12.5 pp).
2024-12-31 → 2025-12-31
Fundamental Changes
Deterministic changes from certified financial metrics. Descriptive only — not a quality score or investment recommendation.
Latest filing period: 9 material changes · 14 operating · 7 balance-sheet · 4 capital-allocation
FY2025 · Filed Mar 11, 2026
Cash Build
Cash increased $139.34M (+55.2%) versus the prior year.
Official filing sourceShare Count Change
Shares outstanding increased 20.2% year over year.
Official filing sourceRevenue Increase
Revenue increased 81.7% versus the prior comparable period.
Official filing sourceOperating Cash Flow Increase
Operating cash flow increased $231.74M (+164.1%) versus the prior comparable period.
Official filing sourceFree Cash Flow Turned Positive
Free cash flow moved from $-40.21M to $129.07M.
Official filing sourceOCF Margin Increase
Operating cash flow margin moved from 27.7% to 40.2% (+12.5 pp).
Official filing sourceFCF Margin Increase
Free cash flow margin moved from -7.9% to 13.9% (+21.8 pp).
Official filing sourceNet Debt Reduction
Net debt declined from $263.70M to $127.59M (-51.6%).
Official filing sourceModules: mtf-trend, momentum, relative-strength · Last calculated: 10/12/2026, 10:39:30 AM
Price data provided by Twelve Data. Charts provided by TradingView. Grey Rabbit Scores and analysis are proprietary to Grey Rabbit Markets.
Gold · Mid-Tier Producer · factual only
| Company | Market Cap | Production | AISC | Net Debt / Cash |
|---|---|---|---|---|
| Aris Mining Corporation(ARIS) | $3.56B | 325.0 koz | $1,705/oz | $127.59M |
| Alamos Gold Inc.(AGI) | — | 610.0 koz | $1,524/oz | $423.00M |
| B2Gold Corp.(BTG) | — | 895.0 koz | $1,584/oz | $217.90M |
| Centerra Gold Inc.(CGAU) | — | 265.0 koz | $1,614/oz | $529.00M |
| DRDGOLD Limited(DRD) | — | 145.0 koz | $1,716/oz | $72.00M |
| Eldorado Gold Corporation(EGO) | — | 540.0 koz | $1,664/oz | $405.70M |
| Equinox Gold Corp.(EQX) | — | 750.0 koz | $1,925/oz | $1.15B |
Sorted by market cap then name — not a ranking. Comparable curated fields only.
Multi-period filing history is available on Pro. Latest TTM P&L above is public.
Derived: eligible price × ADR-aware shares · Aris Mining Corporation · Derived: Debt − Cash · Through 2026-01-21 · Coverage 7/8 key fields · not live filing scrape · Filing-backed TTM P&L from SEC companyfacts (cached — not live scrape)
Periods: YE 2025 Form 40-F / equity statement · YE 2025 · FY 2026 consolidated gold guidance · FY 2025 Segovia combined Owner+CMP AISC $/oz — Marmato AISC not guided to commercial CIP · Operating P&P Segovia 1.503 Moz (Nov 28, 2025) + Marmato 3.178 Moz (Jun 30, 2022) — Soto Norte ~4.569 Moz development excluded from operating P&P total · 2025-12-31
MINING50-MARKETCAP-1.0 · MINING50-NETDEBT-1.0 · MINING50-TTM-1.0 · MINING50-FCF-1.0 · MINING50-FCF-MARGIN-1.0
Grey Rabbit Markets provides independent market research and educational content. Nothing on this website constitutes investment, legal, tax, or financial advice. Past performance does not guarantee future results.