Collective Mining (NASDAQ:CNL) Upgraded to Hold at Zacks Research

Collective Mining (NASDAQ:CNL) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Collective Mining in a report on Wednesday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Collective Mining has an average rating of “Reduce”.

Collective Mining Stock Down 5.0%

Shares of Collective Mining stock opened at $12.79 on Wednesday. Collective Mining has a one year low of $9.77 and a one year high of $21.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 3.99. The stock has a 50 day moving average of $12.54.

Hedge Funds Weigh In On Collective Mining

A number of hedge funds and other institutional investors have recently made changes to their positions in CNL. Groupe la Francaise raised its holdings in Collective Mining by 8.5% in the 2nd quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock worth $6,278,000 after purchasing an additional 40,000 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Collective Mining by 5.5% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 136,764 shares of the company’s stock valued at $1,682,000 after purchasing an additional 7,179 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Collective Mining during the second quarter valued at about $1,375,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Collective Mining during the second quarter valued at about $155,000.

Collective Mining Company Profile

Collective Mining Ltd. is a Canadian mineral exploration company focused on discovering and advancing precious- and base-metal deposits in Colombia. Its exploration work targets gold, copper and silver mineralization. The company’s principal projects are Guayabales and San Antonio, located in Colombia’s Caldas mining district. Collective Mining was formed in 2021 and is focused on exploring its properties; it is not a producing mining company.