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

Collective Mining (NASDAQ:CNL) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks reports.

Separately, Weiss Ratings began coverage on Collective Mining in a research report on Thursday, August 13th. They issued a “sell (d-)” rating for the company. Two research analysts have rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Collective Mining Trading Down 6.1%

NASDAQ CNL opened at $10.87 on Tuesday. Collective Mining has a 12 month low of $9.77 and a 12 month high of $21.97. The stock has a market capitalization of $1.01 billion, a PE ratio of -16.98 and a beta of -0.61. The business has a fifty day moving average of $13.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 3.99.

Institutional Investors Weigh In On Collective Mining

Large investors have recently made changes to their positions in the company. Groupe la Francaise lifted its position in Collective Mining by 8.5% during the second quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock valued at $6,278,000 after purchasing an additional 40,000 shares in the last quarter. Bank of America Corp DE bought a new stake in Collective Mining during the second quarter valued at about $1,375,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Collective Mining in the second quarter worth about $155,000.

Collective Mining Company Profile

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.