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EMA GARP Fund flags Aris Mining as undervalued amid bullion rally
The fund cited Aris guidance calling for 300,000 to 350,000 ounces of production in 2026, supported by operating leverage at higher gold and silver prices.
Yahoo Finance reports that the EMA GARP Fund, managed by Equity Management Associates, highlighted Aris Mining Corporation as a potentially strong, undervalued investment in its second-quarter investor letter for 2026.
The letter points to capital expenditures tied to artificial intelligence as a key driver of earnings and growth, while arguing that extreme US market valuations resemble a bubble-like setup. It also referenced passive ETF flows, fiscal deficits, and inflationary policies as factors affecting markets.
For the quarter, the fund’s value fell 20.0% and it declined 21.96% in the first half of 2026, despite AI and related growth stocks being prominent in Q2. Separately, the letter said precious metals miners appear “way, way too cheap” at current gold and silver prices, citing strong earnings outlook at higher bullion levels.
Aris, a Canadian gold miner, closed on July 27, 2026 at $14.86 per share and was valued at $3.06 billion, with shares up 106.68% over the past 52 weeks. The article says Aris produced 257,000 ounces of gold in 2025 and guided 2026 production between 300,000 and 350,000 ounces, with costs it described as similar to prior levels.
Latest closeGold $4,078.90 ▲0.3%|Silver $58.70 ▲0.1%