ARIS delivered a clean beat with soaring revenue and earnings, massive cash generation, and balance sheet deleveraging. The stock may gap up on this print. However, historical model performance on ARIS has been poor (0% T+20 win rate) suggesting the stock can act perversely despite strong fundamentals. Consider trimming into strength if the gap exceeds 5-7%, or hold for the Marmato CIP catalyst in Q4 2026. Watch for insider selling post-earnings as a negative signal given past patterns.
Price Chart
Executive Summary
Aris Mining reported a massive beat for Q1 2026: revenue surged 136% YoY to $372.5M, net income hit $97.6M (vs $2.4M a year ago), and EPS rose to $0.47 from $0.01. Gold production increased 36% to 74,339 oz as the realized gold price jumped 71% to $4,861/oz. Cash nearly doubled to $472M and net debt almost vanished at $1.6M. The company is on track to deliver the Marmato CIP plant by Q4 2026 and advance Soto Norte and Toroparu studies, positioning it for transformational growth. This is a standout quarter that validates the operational leverage story.
Key Facts
- Revenue $372.5M vs $157.5M in Q1 2025 (+136% YoY)
- Net income $97.6M vs $2.4M in Q1 2025
- EPS $0.47 basic, diluted $0.47 (vs $0.01 YoY)
- Gold production 74,339 oz, up 36% YoY
- Average realized gold price $4,861/oz, up 71% YoY
- Cash and equivalents $472.1M, up from $239.8M a year ago
- Net debt reduced to just $1.6M from $250.1M in Q1 2025
- AISC per oz at Segovia owner-mining $1,492, beating 2026 guidance of $1,700-$1,800
- Marmato CIP plant construction on schedule for first gold in Q4 2026
- Working capital surplus of $281.0M
Financial Impact
Dramatic improvement: revenue up 136% to $372.5M, net income $97.6M, EPS $0.47. Operating cash flow $158.8M, free cash flow after sustaining capital $102.8M.
Risk Factors
- Gold price volatility could compress AISC margins if prices decline
- Colombian wealth tax and COP appreciation added $8.1M and $11.6M in one-time and FX costs respectively
- Execution risk on Marmato expansion and environmental permitting at Soto Norte
- Insider selling clusters after strong quarters have historically preceded drawdowns
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001964504-26-000021 |
| Document: arismining-mdaq12026.htm | 0001964504-26-000021 |
| Document: arismining-6xkq12026.htm | 0001964504-26-000021 |
| Document: 0001964504-26-000021-index-headers.html | 0001964504-26-000021 |
| Document: 0001964504-26-000021-index.html | 0001964504-26-000021 |
| Document: 0001964504-26-000021.txt | 0001964504-26-000021 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 23d ago | 6-K | $20.13 $18.23 | ▼ −9.44% | ▼ −8.34% | $17.53 (−12.92%) |
Jun 11, 2026 16w ago | Institutional Cluster | $15.89 $16.62 | ▲ +4.59% | ▲ +3.92% | $17.53 (+10.32%) |
May 7, 2026 21w ago | 6-K | $19.70 $19.72 | ▲ +0.10% | ▼ −1.36% | $17.53 (−11.02%) |
May 7, 2026 21w ago | 6-K | $19.70 $19.72 | ▲ +0.10% | ▼ −1.36% | $17.53 (−11.02%) |
May 6, 2026 21w ago | 6-K | $19.01 $19.71 | ▲ +3.68% | ▲ +2.18% | $17.53 (−7.79%) |
May 6, 2026 21w ago | 6-K | $19.01 $19.71 | ▲ +3.68% | ▲ +2.18% | $17.53 (−7.79%) |
Apr 17, 2026 24w ago | 6-K | $20.96 $18.94 | ▼ −9.64% | ▼ −10.19% | $17.53 (−16.36%) |
Apr 16, 2026 24w ago | 6-K | $20.33 $18.76 | ▼ −7.72% | ▼ −8.71% | $17.53 (−13.77%) |
Apr 7, 2026 25w ago | 6-K | $20.12 $21.65 | ▲ +7.60% | ▲ +2.28% | $17.53 (−12.87%) |
US Market Status
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