Collective Mining (NASDAQ:CNL) Stock Gets Downgrade from Zacks Research

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

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

Collective Mining Price Performance

NASDAQ:CNL opened at $10.87 on Tuesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -16.98 and a beta of -0.61. The firm’s 50 day moving average is $13.91. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.01. Collective Mining has a 12-month low of $9.77 and a 12-month high of $21.97.

Hedge Funds Weigh In On Collective Mining

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Groupe la Francaise grew 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 buying an additional 40,000 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Collective Mining in the 2nd quarter valued at approximately $155,000. Finally, Bank of America Corp DE bought a new stake in Collective Mining during the 2nd quarter valued at $1,375,000.

About Collective Mining

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.