Collective Mining (NYSEAMERICAN:CNL) Rating Lowered to “Strong Sell” at Zacks Research

Collective Mining (NYSEAMERICAN:CNL) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday,Zacks.com reports.

Collective Mining Stock Performance

Collective Mining stock opened at $11.74 on Wednesday. The firm has a market cap of $1.09 billion, a P/E ratio of -22.15 and a beta of -0.89. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.77 and a quick ratio of 4.77. Collective Mining has a fifty-two week low of $8.30 and a fifty-two week high of $21.97. The firm has a 50 day moving average of $14.49.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Amundi lifted its position in shares of Collective Mining by 4.6% during the 1st quarter. Amundi now owns 760,602 shares of the company’s stock worth $13,394,000 after purchasing an additional 33,239 shares during the last quarter. Groupe la Francaise increased its holdings in Collective Mining by 88.0% in the first quarter. Groupe la Francaise now owns 470,000 shares of the company’s stock valued at $8,227,000 after buying an additional 220,000 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Collective Mining by 6.3% in the first 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 in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in Collective Mining in the second quarter valued at $61,000.

About Collective Mining

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.