Shares of Collective Mining Ltd. (NYSEAMERICAN:CNL – Get Free Report) gapped down prior to trading on Tuesday. The stock had previously closed at $12.94, but opened at $12.45. Collective Mining shares last traded at $12.29, with a volume of 1,131 shares trading hands.
Analyst Ratings Changes
Separately, Zacks Research lowered shares of Collective Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Read Our Latest Research Report on CNL
Collective Mining Stock Performance
Institutional Investors Weigh In On Collective Mining
Several hedge funds and other institutional investors have recently bought and sold shares of CNL. FNY Investment Advisers LLC purchased a new position in shares of Collective Mining during the 2nd quarter valued at approximately $61,000. Deutsche Bank AG grew its position in shares of Collective Mining by 244.4% during the second quarter. Deutsche Bank AG now owns 7,715 shares of the company’s stock worth $95,000 after buying an additional 5,475 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in shares of Collective Mining by 6.3% in 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 during the last quarter. Cibc World Market Inc. bought a new stake in shares of Collective Mining in the second quarter worth $348,000. Finally, Legal & General Group Plc acquired a new stake in Collective Mining in the second quarter valued at $660,000.
About Collective Mining
Collective Mining Ltd. is a precious- and base-metals exploration and development company focused on Colombia. The company is advancing mineral properties believed to contain gold, silver and copper, with the objective of defining mineral resources and evaluating potential future mining operations.
Its principal asset is the Guayabales project in Colombia’s Caldas Department, an area with established mining activity and infrastructure. Exploration at Guayabales has focused on high-grade mineralized systems, including the Apollo, Trap and Plutus discoveries.
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