Collective Mining (NASDAQ:CNL) Upgraded to “Hold” at Zacks Research

Collective Mining (NASDAQ:CNL) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Collective Mining in a report on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Collective Mining presently has a consensus rating of “Reduce”.

Collective Mining Stock Performance

CNL opened at $12.79 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.99 and a quick ratio of 3.99. Collective Mining has a 52 week low of $9.77 and a 52 week high of $21.97. The company has a 50 day moving average price of $12.54.

Institutional Trading of Collective Mining

A number of institutional investors and hedge funds have recently bought and sold shares of CNL. Bank of America Corp DE purchased a new position in Collective Mining in the second quarter worth about $1,375,000. Groupe la Francaise lifted its stake in shares of Collective Mining by 8.5% in the second quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock worth $6,278,000 after buying an additional 40,000 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Collective Mining by 5.5% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 136,764 shares of the company’s stock worth $1,682,000 after buying an additional 7,179 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Collective Mining in the second quarter worth approximately $155,000.

Collective Mining Company Profile

Collective Mining Ltd. is a Canadian mineral exploration company focused on discovering and advancing precious- and base-metal deposits in Colombia. Its exploration work targets gold, copper and silver mineralization. The company’s principal projects are Guayabales and San Antonio, located in Colombia’s Caldas mining district. Collective Mining was formed in 2021 and is focused on exploring its properties; it is not a producing mining company.