The Manufacturers Life Insurance Company Has $3.20 Million Holdings in Collective Mining Ltd. $CNL

The Manufacturers Life Insurance Company lessened its position in shares of Collective Mining Ltd. (NASDAQ:CNL) by 13.1% in the second quarter, HoldingsChannel reports. The fund owned 269,510 shares of the company’s stock after selling 40,798 shares during the period. The Manufacturers Life Insurance Company’s holdings in Collective Mining were worth $3,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Groupe la Francaise increased its stake in shares of Collective Mining by 8.5% during the second quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock worth $6,278,000 after purchasing an additional 40,000 shares during the period. Bank of America Corp DE acquired a new stake in Collective Mining during the 2nd quarter worth approximately $1,375,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Collective Mining in the 2nd quarter valued at $155,000.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Zacks Research raised Collective Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings started coverage on Collective Mining in a report on Thursday, August 13th. They set a “sell (d-)” rating for the company. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Collective Mining Stock Performance

Shares of NASDAQ:CNL opened at $14.07 on Monday. Collective Mining Ltd. has a 12-month low of $9.77 and a 12-month high of $21.97. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -21.98 and a beta of -0.78. 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 Company Profile

Collective Mining Ltd. is a mineral exploration and development company focused on discovering and advancing precious- and base-metal deposits in Colombia. The company is primarily engaged in exploration rather than commercial mining and uses drilling, geological mapping and related technical programs to evaluate the potential of its properties.

Collective Mining’s principal assets include the Guayabales and Apollo projects in Colombia’s Caldas mining district. These projects are prospective for gold, silver, copper and other associated metals, with exploration centered on identifying and expanding high-grade mineralized zones.

The company is headquartered in Canada and conducts its exploration activities in Colombia.