305,714 Shares in Collective Mining Ltd. $CNL Acquired by Ninepoint Partners LP

Ninepoint Partners LP bought a new stake in Collective Mining Ltd. (NYSEAMERICAN:CNL) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 305,714 shares of the company’s stock, valued at approximately $3,745,000.

Other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in Collective Mining in the 2nd quarter valued at about $61,000. Deutsche Bank AG lifted 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 purchasing an additional 5,475 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Collective Mining by 6.3% during the first quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock valued at $191,000 after purchasing an additional 649 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Collective Mining by 5.4% in the second quarter. TD Asset Management Inc now owns 84,750 shares of the company’s stock valued at $1,042,000 after purchasing an additional 4,364 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Collective Mining in the second quarter valued at approximately $1,588,000.

Collective Mining Stock Performance

CNL opened at $15.21 on Friday. The stock’s fifty day simple moving average is $13.33. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -28.70 and a beta of -0.84. Collective Mining Ltd. has a 52 week low of $9.77 and a 52 week high of $21.97. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

Separately, Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Collective Mining

Collective Mining Ltd is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. The company currently has interest in two projects located in Colombia, namely, Guayabales and San Antonio. The company is responsible for discovering, permitting, and constructing the gold mine in Colombia. The company is rapidly advancing exploration on large-scale copper-gold-molybdenum porphyry targets in the mining-friendly department of Caldas in Colombia.