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    Aris Mining (TSX:ARIS) Could Be 29% Undervalued Following Its Toroparu Bridge Build

    Simply Wall St·09/18/2026 11:34:24
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    Aris Mining bridge project puts Toroparu infrastructure in focus

    Aris Mining (TSX:ARIS) has started building a 109 metre modular steel bridge across the Puruni River in Guyana. This is a key early infrastructure step for the Toroparu Gold Project and surrounding communities.

    Recent trading has been strong for Aris Mining, with a 1 day share price return of 4.08% and a 30 day share price return of 8.61%. The 1 year total shareholder return of 109.65% and the very large 3 year total shareholder return of about 7x point to momentum that investors appear to be tying to project execution steps such as the Toroparu bridge and other updates.

    Spot opportunities around Aris Mining by scanning a curated 36 elite gold producer stocks that are also building out major projects and infrastructure.

    After a 1-year total return above 100% and a very large 3-year move of about 7x, the puzzle for Aris Mining is now simple: Are you late to the story or early on valuation?

    Most Popular Narrative: 29% Undervalued

    Aris Mining last closed at CA$26.50, while the most followed narrative framework points to a fair value estimate of about CA$37.18. That gap, combined with the Toroparu bridge work and ongoing project build out, is what many investors are now weighing against execution and country risk.

    The ongoing expansion at the Segovia operations, with the new second ball mill increasing processing capacity by 50% and a targeted production ramp up to 300,000 ounces in 2026, is set to drive sustained revenue growth and structurally higher operating margins as fixed costs are leveraged over larger output. Progress on the Marmato Lower Mine project remains on track, with first ore and production ramp up expected in the second half of 2026; upon completion, the combined Marmato complex is positioned to contribute over 200,000 ounces of gold annually, nearly doubling companywide production capacity and greatly enhancing future earnings.

    See why 37 investors see Aris Mining as 29% undervalued.

    Result: Fair Value of CA$37.18 (UNDERVALUED)

    Still, the Aris Mining story leans heavily on Colombia. Any shift in regulation or community support, or a sharp gold price drop, could quickly flip this narrative.

    Find out about the key risks to this Aris Mining narrative.

    Next Steps

    If Aris Mining really is 29% below that fair value estimate, you probably want to stress test the story yourself before sentiment shifts. Run through the assumptions, pressure test the Toroparu and Colombia exposure, then assess whether those 3 key rewards

    Looking for more Aris Mining style investment ideas?

    If Aris Mining already feels well researched to you, do not stop there. Fresh ideas often emerge where fewer eyes are looking, and screens can surface those candidates fast.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.