Van ECK Associates Corp Sells 37,797 Shares of Collective Mining Ltd. $CNL

Van ECK Associates Corp lessened its holdings in Collective Mining Ltd. (NASDAQ:CNL) by 3.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,240,264 shares of the company’s stock after selling 37,797 shares during the quarter. Van ECK Associates Corp’s holdings in Collective Mining were worth $15,245,000 at the end of the most recent reporting period.

Separately, Bank of America Corp DE purchased a new position in shares of Collective Mining in the second quarter valued at about $1,375,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Weiss Ratings initiated coverage on Collective Mining in a research note on Thursday, August 13th. They issued a “sell (d-)” rating for the company. Zacks Research raised Collective Mining from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Collective Mining Stock Down 0.8%

Shares of NASDAQ:CNL opened at $15.12 on Tuesday. Collective Mining Ltd. has a fifty-two week low of $9.77 and a fifty-two week high of $21.97. The company has a quick ratio of 3.99, a current ratio of 3.99 and a debt-to-equity ratio of 0.01.

Collective Mining Company 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.