Collective Mining (NASDAQ:CNL) Stock Rating Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Collective Mining (NASDAQ:CNL) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks reports.

Separately, Weiss Ratings began coverage on Collective Mining in a report on Thursday, August 13th. They set a “sell (d-)” rating on the stock. Two analysts have rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

Collective Mining Price Performance

Shares of NASDAQ CNL opened at $10.87 on Tuesday. Collective Mining has a 1-year low of $9.77 and a 1-year high of $21.97. The stock has a 50-day moving average of $13.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.99 and a quick ratio of 3.99. The stock has a market capitalization of $1.01 billion, a P/E ratio of -16.98 and a beta of -0.61.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CNL. Public Employees Retirement System of Ohio purchased a new stake in Collective Mining during the 2nd quarter worth approximately $155,000. Bank of America Corp DE acquired a new position in shares of Collective Mining in the 2nd quarter valued at approximately $1,375,000. Finally, Groupe la Francaise raised its position in shares of Collective Mining by 8.5% in the 2nd quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock valued at $6,278,000 after purchasing an additional 40,000 shares in the last quarter.

Collective Mining Company Profile

Collective Mining Ltd. is a mineral exploration and development company focused on discovering and advancing precious- and base-metal projects in Colombia. The company’s primary exploration targets include gold, silver, copper and related mineralization, with activities centered on evaluating the size, grade and development potential of its mineral properties.

Collective Mining’s flagship asset is the Guayabales project in Colombia’s Caldas department. The company has reported multiple exploration discoveries at Guayabales, including the Apollo system, and continues to conduct drilling, geological studies and other technical work to expand its understanding of the project.