Wellington Management Group LLP Trims Holdings in Collective Mining Ltd. $CNL

Wellington Management Group LLP decreased its holdings in shares of Collective Mining Ltd. (NASDAQ:CNL) by 46.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,017,032 shares of the company’s stock after selling 1,728,765 shares during the period. Wellington Management Group LLP’s holdings in Collective Mining were worth $24,809,000 at the end of the most recent reporting period.

Separately, Bank of America Corp DE bought a new stake in shares of Collective Mining in the 2nd quarter worth approximately $1,375,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CNL shares. Weiss Ratings started coverage on Collective Mining in a research note on Thursday, August 13th. They set a “sell (d-)” rating on the stock. Zacks Research upgraded shares of Collective Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Collective Mining Stock Performance

CNL opened at $16.75 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.99 and a quick ratio of 3.99. Collective Mining Ltd. has a 52 week low of $9.77 and a 52 week high of $21.97. The company has a market capitalization of $1.55 billion, a PE ratio of -26.17 and a beta of -0.78.

Collective Mining Company Profile

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.