Core Viewpoint - Aris Mining Corporation (ARMN) and Allied Gold Corporation (AAUC) are emerging gold producers in the Zacks Mining - Gold industry, both expanding production through operating mines and development projects across the Americas and Africa [2][3]. Aris Mining (ARMN) - Aris Mining produced 69,852 ounces of gold in Q4 2025, totaling 256,503 ounces for the year, a 22% increase year over year, exceeding the guidance range of 230,000-275,000 ounces [4][11]. - The Segovia mine is the primary driver of production growth, with an expected output of 265,000-300,000 ounces in 2026, up from 227,762 ounces in 2025 [5]. - The acquisition of the remaining 49% stake in the Soto Norte project positions Aris Mining as the sole owner, reaffirming it as a top undeveloped gold asset in the Americas [6]. - The Marmato operation is also a long-term growth engine, with expected production of 35,000-50,000 ounces in 2026, up from 28,741 ounces in 2025 [7]. - Aris Mining has a strong cash balance of $390 million at the end of Q4 2025, supporting ongoing investment in expansion projects [8]. - However, ARMN faces rising cost pressures, with all-in-sustaining costs (AISC) increasing 6.6% year over year to approximately $1,641 per ounce [9][11]. Allied Gold (AAUC) - Allied Gold produced 262,077 ounces of gold in the first nine months of 2025, slightly above the previous year's output, and anticipates production exceeding 375,000 ounces for the full year [12]. - The company is enhancing performance through drilling high-grade zones and improving mine models, with new equipment introduced at Sadiola to increase fleet availability [13]. - The Kurmuk mine in Ethiopia is a significant development project, targeting an average production of about 290,000 ounces per year, with plans to grow total resources to 5 million ounces over five years [14]. - AAUC is experiencing cost inflation, with total cost of sales increasing 20.7% year over year to $2,087 per gold ounce sold [15]. - The company has recorded weaker cash flow generation due to high capital expenditures, impacting profitability as margins are constrained by rising costs [16]. Financial Performance and Valuation - The Zacks Consensus Estimate for ARMN's 2025 earnings per share (EPS) indicates a growth of 311.8%, with estimates trending 3.7% upward over the past 60 days [17]. - For AAUC, the 2025 EPS estimate implies a year-over-year growth of 928.6%, with estimates increasing by 17.1% over the same period [18]. - In the past six months, ARMN's shares surged 194.5%, while AAUC stock gained 148.3% [20]. - ARMN is trading at a forward price-to-earnings ratio of 6.17X, below its median of 6.91X, while AAUC's forward earnings multiple is at 5.46X, higher than its median of 4.71X [22]. Conclusion - Aris Mining is well-positioned for long-term growth with a strong pipeline of projects and a solid cash position, while Allied Gold faces near-term challenges due to elevated costs and weaker cash flow [24][26].

Currency and Market Overview - The U.S. dollar has fallen to its weakest level in nearly four years, declining about 10% over the past year due to rising geopolitical tensions and tariff-driven market volatility [1][2] - The dollar's decline accelerated following President Trump's tariff announcements, which triggered a global market sell-off and increased uncertainty regarding trade relations, particularly with European allies [2][3] Precious Metals Performance - Gold and silver have reached record highs as investors seek safe-haven assets amid economic and geopolitical stress, with spot gold up more than 27% this year and nearing $5,600, while silver approaches a record high near $120 [4][5] - The Federal Reserve's decision to hold interest rates steady, acknowledging elevated inflation, has further supported the rally in precious metals, which typically move inversely to the dollar [5][6] Investment Opportunities in Precious Metal Stocks - AngloGold Ashanti is a leading global gold producer with a strong asset base and recent acquisitions, including Augusta Gold Corp. and Centamin, which have enhanced its production capabilities [7][8] - The Zacks Consensus Estimate for AngloGold's 2026 sales and EPS indicates a year-over-year increase of 23% and 41%, respectively, with an upward revision of 8 cents in EPS over the past 30 days [9] - Fresnillo, a major silver and gold producer in Mexico, has expanded its portfolio through the acquisition of Probe Gold, adding significant gold resources and focusing on improving production efficiency [12][13] - The Zacks Consensus Estimate for Fresnillo's 2026 sales and EPS suggests a substantial year-over-year increase of 75% and 578%, respectively, with a recent EPS revision of 35 cents [14] - Aris Mining is enhancing its presence in Latin America with a focus on gold properties and has a robust project pipeline, including the Segovia mine and the Soto Norte Project [15][16] - The Zacks Consensus Estimate for Aris Mining's 2026 EPS indicates a year-over-year surge of 91%, with an upward revision of 32 cents in the past 30 days [17] - Hecla Mining, the largest silver producer in the U.S. and Canada, is advancing its Keno Hill project towards commercial production and has promising exploration results from its Midas Project [18] - The Zacks Consensus Estimate for Hecla Mining's 2026 sales and EPS forecasts a year-over-year increase of 14% and 38%, respectively, with a recent EPS revision of 17 cents [19]

Core Viewpoint - Aris Mining is considered undervalued with significant growth opportunities in 2026, supported by its gold production capabilities and strategic projects [2][6]. Group 1: Company Overview - Aris Mining focuses on gold production and is a key player in the mining industry, competing with giants like Barrick Gold and Newmont Corporation [1]. - The company's market capitalization is approximately $4.09 billion, indicating strong investor interest [5]. Group 2: Production and Financial Performance - The Segovia and Marmato mines are expected to produce between 300,000 to 350,000 ounces of gold in 2026, which is anticipated to generate strong operating cash flow [2][6]. - Current gold prices are favorable, enhancing the potential for robust financial performance [2]. Group 3: Key Projects and Valuation - The Toroparu Pre-Feasibility Study (PFS) and Soto Norte permitting are crucial for Aris Mining in 2026, with the potential to deliver a multi-billion dollar net present value (NPV) [3]. - These developments could significantly impact the company's financial performance and stock valuation [3]. Group 4: Stock Performance - As of January 23, 2026, Aris Mining's stock was priced at $20.01, with a recent increase to $20.19, reflecting a 2.80% rise [1][4]. - The stock has experienced considerable volatility over the past year, with a high of $20.40 and a low of $3.50 [4].

Core Insights - The article presents a "Top 5 Mining Stocks to Watch" list for 2026, highlighting the success of 2025 where record-breaking metals prices led to triple-digit returns for featured companies [1] Group 1: Market Performance - In 2025, the mining sector experienced significant growth due to high metals prices, resulting in substantial returns for investors [1] Group 2: Analyst Background - Peter Arendas, an associate professor with over 15 years of investing experience, specializes in small and mid-cap companies in the resource sector, particularly in precious and industrial metals royalty & streaming [1]

Core Viewpoint - Aris Mining Corporation is undergoing a significant leadership transition with the retirement of Ian Telfer as Chair, and Neil Woodyer has been appointed as Chair and Chief Executive Officer, aiming to enhance execution and growth strategies [1][2][3]. Board Leadership Changes - Ian Telfer has retired from the Board of Directors after serving since February 2021, but will continue in an advisory role [2]. - The Board has approved a streamlined governance structure, combining the roles of Chair and CEO, supported by a strong Lead Independent Director [4][6]. Management Leadership Changes - Doug Bowlby has been promoted to President, supporting the CEO in corporate strategy and initiatives, while the Chief Operating Officer role has been eliminated [5]. - Neil Woodyer will lead operational and project execution directly, with Dustin VanDoorselaere and Cornelius Lourens reporting to him [6][8]. Operational and Growth Strategy - Aris Mining operates two underground gold mines in Colombia, targeting an annual production of approximately 1.0 million ounces of gold, with current production at 256,503 ounces in 2025 [10]. - The company has a development pipeline including the Toroparu gold project in Guyana and the Soto Norte project in Colombia, with studies underway to advance these projects [10].

Core Viewpoint - Aris Mining Corporation reported a significant increase in gold production for 2025, achieving 256,503 ounces, a 22% rise from 2024, and anticipates further growth in 2026 with production expected to reach between 300,000 and 350,000 ounces driven by expansions at Segovia and Marmato [1][3][9]. Production Highlights - In 2025, Aris Mining produced 256,503 ounces of gold, exceeding the guidance midpoint of 230,000 to 275,000 ounces [7]. - The second half of 2025 saw a 26% production growth, attributed to the expansion at Segovia and consistent performance at Marmato [3]. - Fourth quarter production totaled 69,852 ounces, with Segovia contributing 63,137 ounces and Marmato 6,715 ounces [4][6]. Future Production Guidance - For 2026, consolidated gold production is projected to be between 300,000 and 350,000 ounces, with a significant portion expected in the second half of the year [9][10]. - Segovia's production is anticipated to increase to between 265,000 and 300,000 ounces, while Marmato is expected to contribute between 35,000 and 50,000 ounces [10][13]. - The new carbon in pulp (CIP) plant at Marmato is expected to commence production in Q4 2026, enhancing overall output [13]. Operational Insights - The Segovia mill expansion, completed in June 2025, has been a key driver for increased production [15]. - The company plans to operate the new CIP plant at a design capacity of 5,000 tonnes per day by the end of 2027, with initial processing expected to start at approximately 3,000 tonnes per day [13]. - Development of the new underground decline to the Bulk Mining Zone at Marmato is 45% complete and is scheduled for completion in Q3 2026 [13]. Financial Position - As of December 31, 2025, Aris Mining reported a cash balance of over US$390 million, net of US$60 million used for the acquisition of the remaining 49% interest in Soto Norte [7].

Core Insights - Aris Mining Corporation (ARMN) reported a 36.6% year-over-year increase in gold production to 73,236 ounces for Q3 2025, with a 25% rise from the previous quarter, driven by Segovia Operations in Colombia [1][9] - The Segovia mine saw a 38% year-over-year production increase to 65,549 ounces, while the Marmato Upper Mine produced 7,687 ounces, marking a 26% increase from a year ago [2] - The growth in production is attributed to the commissioning of a second mill at the Segovia mine, which increased processing capacity and allowed for the processing of 219,550 tonnes of gold ore, a 31.6% increase year-over-year [3] Strategic Developments - In December 2025, ARMN completed the acquisition of the remaining 49% stake in the Soto Norte joint venture, becoming the sole owner of the project, which is recognized as one of the most attractive undeveloped gold assets in the Americas [4] - The company is well-positioned to achieve its production targets and strengthen its position in the Latin American gold mining industry as it progresses with expansion initiatives [5] Peer Comparison - B2Gold Corp. (BTG) reported consolidated gold production of 254,369 ounces for Q3, with expectations of 250,000 ounces in 2026 and 330,000 ounces in 2027 for its Goose mine [6] - Agnico Eagle Mines Limited (AEM) experienced a 0.4% year-over-year increase in gold production to 866,936 ounces, with stable production expectations of approximately 3.3-3.5 million ounces annually from 2025 to 2027 [7] Financial Performance - ARMN's shares have increased by 17.5% in the past month, outperforming the industry's growth of 8.1% [8] - The company is trading at a forward price-to-earnings ratio of 5.50X, significantly lower than the industry's average of 14.93X, and holds a Value Score of C [10] - The Zacks Consensus Estimate for ARMN's 2025 earnings has risen by 2.2% over the past 60 days [11]

Core Viewpoint - Aris Mining Corporation (ARMN) is identified as a strong momentum stock with a Momentum Style Score of A and a Zacks Rank of 1 (Strong Buy), indicating potential for significant near-term gains [3][4][12]. Price Performance - ARMN shares have increased by 5.38% over the past week, while the Zacks Mining - Gold industry has risen by 5.92% during the same period [6]. - Over the past month, ARMN's price change is 16.67%, outperforming the industry's 14.3% [6]. - In the last quarter, ARMN shares have surged by 87.2%, and over the past year, they have skyrocketed by 377.19%, compared to the S&P 500's increases of 4.57% and 19.92%, respectively [7]. Trading Volume - The average 20-day trading volume for ARMN is 1,641,348 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the last two months, one earnings estimate for ARMN has been revised upward, while none have been lowered, resulting in an increase in the consensus estimate from $1.35 to $1.38 [10]. - For the next fiscal year, one estimate has also moved upwards with no downward revisions during the same period [10].

Core Viewpoint - Aris Mining Corporation (ARMN) has received a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which reflects EPS estimates from sell-side analysts for the current and following years, indicating a company's changing earnings picture [1][2]. - A strong correlation exists between changes in earnings estimates and near-term stock price movements, largely influenced by institutional investors who adjust their valuations based on these estimates [4][5]. Recent Performance and Projections - For the fiscal year ending December 2025, Aris Mining Corporation is expected to earn $1.38 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 113.8% over the past three months [8]. - The rating upgrade signifies an improvement in the company's underlying business, which is expected to positively influence its stock price [5][10]. Zacks Rank System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a "Strong Buy" rating, indicating superior earnings estimate revisions and potential for market-beating returns [9][10].

Core Insights - Three stocks with strong momentum and buy rankings are highlighted for investors: Centerra Gold Inc., Aris Mining Corporation, and Cameco Corporation Group 1: Centerra Gold Inc. (CGAU) - Centerra Gold is a metals mining company with a Zacks Rank 1 and a 7.6% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [1] - The company's shares have gained 26.4% over the last three months, while the S&P 500 has declined by 5.4% [1] - Centerra Gold has a Momentum Score of B [1] Group 2: Aris Mining Corporation (ARMN) - Aris Mining is a gold mining company with a Zacks Rank 1 and a 2.2% increase in the Zacks Consensus Estimate for its current year earnings over the last 60 days [2] - The company's shares have gained 64.1% over the past three months, compared to the S&P 500's decline of 5.4% [2] - Aris Mining also possesses a Momentum Score of B [2] Group 3: Cameco Corporation (CCJ) - Cameco is a uranium mining company with a Zacks Rank 1 and a 2.7% increase in the Zacks Consensus Estimate for its next year earnings over the last 60 days [3] - The company's shares have gained 21.8% over the last three months, while the S&P 500 has declined by 5.4% [3] - Cameco has a Momentum Score of A [3]