Zacks Research Upgrades Collective Mining (NASDAQ:CNL) to Hold

Collective Mining (NASDAQ:CNL) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Collective Mining Trading Up 2.0%

Shares of NASDAQ:CNL opened at $14.81 on Thursday. The company has a market capitalization of $1.37 billion, a PE ratio of -23.14 and a beta of -0.84.

Collective Mining Ltd. is a Canadian mineral exploration and development company focused on discovering and advancing precious- and base-metal deposits in Colombia. The company’s activities include geological exploration, drilling, resource evaluation and project development, with an emphasis on high-grade gold, silver and copper opportunities.

Collective Mining’s principal assets are located in the Caldas region of Colombia, including the Guayabales and Plutus projects. Exploration at Guayabales has focused on multiple mineralized systems, including the Apollo system, while the company continues to assess additional targets across its Colombian exploration portfolio.

The company was established to pursue district-scale mineral opportunities in Colombia and is led by Executive Chairman Ari Sussman and President and Chief Executive Officer Alistair Waddell.