Wellington Management Group LLP Cuts Stake in Collective Mining Ltd. $CNL

Wellington Management Group LLP lowered its holdings in shares of Collective Mining Ltd. (NASDAQ:CNL) by 46.2% during the 2nd quarter, according to the company in its most recent filing with the 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 owned about 2.17% of Collective Mining worth $24,809,000 as of its most recent filing with the SEC.

Separately, Public Employees Retirement System of Ohio purchased a new stake in Collective Mining during the second quarter valued at about $155,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings started coverage on Collective Mining in a report on Thursday, August 13th. They issued a “sell (d-)” rating on the stock. Zacks Research upgraded Collective Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

Collective Mining Stock Performance

Shares of Collective Mining stock opened at $16.75 on Friday. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01. 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 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.