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Operates the Segovia and Marmato underground gold mines in Colombia.
Operates the Segovia and Marmato underground gold mines in Colombia.
The Toronto line of the same company that also trades in the US: it sells gold from Segovia, an established underground operation, and from Marmato, where an expansion is the large build-out. It also holds a gold development project in Guyana.
Moat: narrow (installed base, regulatory licence). Long-established, permitted underground mines with local community and processing infrastructure.
Headquarters: Toronto, Canada · Employees: 3,578
Size Aris Mining (ARIS.TO) is a Canada Materials company (Precious Metals) with a market value of $3.24B, the 151st largest of 420 Canada companies the cockpit tracks. Shares closed at C$22.02 on 6 Nov 2026.
Performance Over six months the shares fell 15.1%, against -6.3% for the median peer and +5.2% for the Canada market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 94.3% over the last twelve months (peer median +49.5%); the operating margin is 46.3% (peer median 43.8%).
Valuation It trades at 5.5× forward earnings against a peer median of 8.7× (3rd cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +20%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 10.0 points above its cost of capital (12.8% WACC).
Next results Next results expected around 17 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$1.75B | C$1.30B | C$700M | C$604M | C$521M |
| Revenue growth | — | +85% | +16% | +16% | — |
| Gross profit | C$899M | C$602M | C$200M | C$187M | C$205M |
| EBITDA | C$903M | C$592M | C$216M | C$208M | C$221M |
| Net income | C$393M | C$109M | C$33.7M | C$15.4M | -C$6.32M |
| Free cash flow | C$146M | C$95.2M | -C$110M | -C$46.1M | -C$77.8M |
| Capital expenditure | C$434M | C$341M | C$249M | C$153M | C$150M |
| Total debt | C$718M | C$720M | C$749M | C$505M | C$591M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aris Mining ARIS.TO | $3.24B | -15% | +94% | 46% | 5.5× | 2.1% |
| Collective Mining CNL.TO | $1.17B | -22% | n/a | n/a | n/a | n/a |
| Eldorado Gold ELD.TO | $9.37B | +11% | +25% | 45% | 7.7× | n/a |
| Anglogold Ashanti AU | $47.0B | -13% | +139% | 51% | 11.7× | -7.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ARIS.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.3% | -1.0% | 3rd lowest of 21 |
| 6-month return | -15.1% | -6.3% | 9th lowest of 21 |
| Distance from 52-week high | -30.0% | -29.9% | 11th highest of 21 |
| Revenue growth (TTM) | +94.3% | +49.5% | 5th highest of 16 |
| Operating margin | 46.3% | 43.8% | 8th highest of 16 |
| Forward P/E | 5.5× | 8.7× | 3rd cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 2.1% | -5.1% | 5th most demanding of 15 |
| Growth delivered (Del g) | +19.8% | +26.1% | 6th lowest of 15 |
| Hurdle (Req g minus delivered) | -17.7 pp | -32.7 pp | 4th most demanding of 15 |
| ROIC minus cost of capital | +10.0 pp | +19.8 pp | 7th lowest of 20 |
| EV / EBITDA | 5.2× | 5.2× | 6th cheapest of 14 |
| Net debt / EBITDA | 0.1× | -0.5× | 2nd most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aris Mining ARIS.TO | Canada | $3.24B | -15% | +94% | 46% | 5.5× | 2.1% | +19.8% |
| Allied Gold AAUC.TO | Canada | $3.24B | -19% | +54% | 32% | 3.9× | n/a | n/a |
| Western Region Gold 601069.SS | China | $3.29B | -26% | +118% | n/a | 11.2× | 11.7% | +19.5% |
| Hochschild Mining HOC.L | United Kingdom | $3.37B | -27% | +37% | 44% | 9.8× | -10.7% | +14.1% |
| Predictive Discovery PDI.AX | Australia | $3.08B | -13% | n/a | -28% | n/a | n/a | n/a |
| Emerald Resources NL EMR.AX | Australia | $3.04B | +6% | +40% | 61% | 15.2× | 1.5% | +26.4% |
| Regis Resources RRL.AX | Australia | $3.49B | -3% | +43% | 43% | 8.5× | -9.5% | +23.5% |
| Lingbao Gold 3330.HK | Hong Kong | $2.94B | -28% | -10% | 22% | 8.0× | -5.6% | +17.8% |
| Wesdome Gold Mines WDO.TO | Canada | $2.92B | +6% | +49% | 57% | 7.8× | -10.7% | +33.5% |
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 32% | 8.8× | -7.6% | +33.7% |
| Fortuna Mining FVI.TO | Canada | $2.87B | -5% | +6% | 49% | 6.4× | -4.6% | +29.0% |
| Seabridge Gold SEA.TO | Canada | $2.87B | -8% | n/a | n/a | n/a | n/a | n/a |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 53% | 19.2× | 17.9% | +72.4% |
| Novagold Resources NG | United States | $2.81B | -27% | n/a | n/a | n/a | n/a | n/a |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 54% | 7.2× | -6.7% | +25.7% |
| West African Resources WAF.AX | Australia | $2.74B | +4% | +194% | 57% | 4.4× | -18.5% | +37.7% |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | n/a | n/a | n/a | n/a |
| Sichuan Gold 001337.SZ | China | $2.52B | -25% | +57% | 56% | n/a | 17.7% | +13.6% |
| Vault Minerals VAU.AX | Australia | $4.19B | +21% | +35% | 33% | 13.0× | -0.1% | +59.0% |
| Centerra Gold CG.TO | Canada | $4.25B | +27% | +44% | 27% | 12.4× | 6.5% | +13.9% |
| Perpetua Resources PPTA | United States | $2.44B | -35% | n/a | n/a | n/a | n/a | n/a |