Alberta Investment Management Corp Sells 94,000 Shares of Collective Mining Ltd. $CNL

Key Points

• Alberta Investment Management Corp. reduced its Collective Mining stake by 32% in the second quarter, selling 94,000 shares and retaining 200,000 shares valued at approximately $2.46 million.
• Other institutions showed mixed activity, with Groupe la Française increasing its holdings by 88% and Amundi adding 4.6%, while several other investors also raised their positions.
• Analyst sentiment is bearish: Zacks Research downgraded the stock to “strong sell,” and Collective Mining has an overall “Sell” rating. Shares opened at $14.63, well below their 52-week high of $21.97.

Alberta Investment Management Corp lowered its stake in shares of Collective Mining Ltd. (NYSEAMERICAN:CNL - Free Report) by 32.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the company's stock after selling 94,000 shares during the quarter. Alberta Investment Management Corp owned 0.22% of Collective Mining worth $2,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CNL. FNY Investment Advisers LLC bought a new stake in shares of Collective Mining in the 2nd quarter worth $61,000. Pictet Asset Management Holding SA increased its holdings in Collective Mining by 6.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company's stock worth $191,000 after acquiring an additional 649 shares during the last quarter. TD Asset Management Inc grew its stake in Collective Mining by 5.4% in the 2nd quarter. TD Asset Management Inc now owns 84,750 shares of the company's stock valued at $1,042,000 after buying an additional 4,364 shares in the last quarter. Groupe la Francaise boosted its stake in Collective Mining by 88.0% in the 1st quarter. Groupe la Francaise now owns 470,000 shares of the company's stock worth $8,227,000 after purchasing an additional 220,000 shares during the period. Finally, Amundi lifted its stake in Collective Mining by 4.6% in the 1st quarter. Amundi now owns 760,602 shares of the company's stock worth $13,394,000 after purchasing an additional 33,239 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut shares of Collective Mining from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 15th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Collective Mining presently has an average rating of "Sell".

Collective Mining Stock Down 1.2%

NYSEAMERICAN:CNL opened at $14.63 on Tuesday. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01. The firm's fifty day moving average price is $13.23. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -27.60 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.

Collective Mining Company Profile

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.

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