Van ECK Associates Corp Lowers Holdings in Collective Mining Ltd. $CNL

Van ECK Associates Corp decreased its position in Collective Mining Ltd. (NASDAQ:CNL) by 3.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,240,264 shares of the company’s stock after selling 37,797 shares during the period. Van ECK Associates Corp owned approximately 1.34% of Collective Mining worth $15,245,000 at the end of the most recent reporting period.

Separately, Public Employees Retirement System of Ohio purchased a new position in Collective Mining in the 2nd quarter worth approximately $155,000.

Collective Mining Stock Performance

NASDAQ:CNL opened at $15.12 on Tuesday. 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CNL shares. Weiss Ratings assumed coverage on shares of Collective Mining in a research note on Thursday, August 13th. They set a “sell (d-)” rating on the stock. Zacks Research upgraded shares of Collective Mining from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.