The Manufacturers Life Insurance Company Has $5.37 Million Stock Position in Collective Mining Ltd. $CNL

The Manufacturers Life Insurance Company reduced its position in Collective Mining Ltd. (NYSEAMERICAN:CNL) by 24.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 310,308 shares of the company’s stock after selling 101,000 shares during the period. The Manufacturers Life Insurance Company’s holdings in Collective Mining were worth $5,373,000 at the end of the most recent quarter.

Separately, Pictet Asset Management Holding SA lifted its holdings in shares of Collective Mining by 6.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock valued at $191,000 after buying an additional 649 shares during the last quarter.

Collective Mining Stock Up 1.6%

Shares of Collective Mining stock opened at $13.38 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -25.25 and a beta of -0.84. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $13.38. Collective Mining Ltd. has a 12-month low of $9.19 and a 12-month high of $21.97.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Collective Mining Company Profile

Collective Mining Ltd is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. The company currently has interest in two projects located in Colombia, namely, Guayabales and San Antonio. The company is responsible for discovering, permitting, and constructing the gold mine in Colombia. The company is rapidly advancing exploration on large-scale copper-gold-molybdenum porphyry targets in the mining-friendly department of Caldas in Colombia.