Collective Mining (NYSEAMERICAN:CNL) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Collective Mining (NYSEAMERICAN:CNL) from a hold rating to a strong sell rating in a research note released on Wednesday,Zacks.com reports.

Collective Mining Price Performance

Collective Mining stock opened at $11.74 on Wednesday. The business’s fifty day moving average is $14.49. Collective Mining has a one year low of $8.30 and a one year high of $21.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.77 and a current ratio of 4.77. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -22.15 and a beta of -0.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CNL. FNY Investment Advisers LLC acquired a new position in Collective Mining in the second quarter valued at about $61,000. Pictet Asset Management Holding SA grew its stake in Collective Mining by 6.3% during the first quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock worth $191,000 after buying an additional 649 shares in the last quarter. Groupe la Francaise grew its stake in Collective Mining by 88.0% during the first quarter. Groupe la Francaise now owns 470,000 shares of the company’s stock worth $8,227,000 after buying an additional 220,000 shares in the last quarter. Finally, Amundi increased its holdings in Collective Mining by 4.6% in the 1st quarter. Amundi now owns 760,602 shares of the company’s stock valued at $13,394,000 after buying an additional 33,239 shares during the period.

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.