The Manufacturers Life Insurance Company Buys Shares of 269,510 Collective Mining Ltd. $CNL

Key Points

• The Manufacturers Life Insurance Company acquired 269,510 shares of Collective Mining, valued at approximately $3.2 million, giving it a 0.29% stake.
• Several institutional investors increased or initiated positions in the company during the first and second quarters, including Deutsche Bank, TD Asset Management, and FNY Investment Advisers.
• Analyst sentiment remains negative: Zacks Research downgraded the stock to “strong sell,” while shares recently traded at $15.09, below their 12-month high of $21.97.

The Manufacturers Life Insurance Company purchased a new stake in Collective Mining Ltd. (NYSEAMERICAN:CNL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 269,510 shares of the company's stock, valued at approximately $3,199,000. The Manufacturers Life Insurance Company owned about 0.29% of Collective Mining as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Collective Mining in the second quarter valued at about $61,000. Deutsche Bank AG grew its position in Collective Mining by 244.4% in the second quarter. Deutsche Bank AG now owns 7,715 shares of the company's stock valued at $95,000 after acquiring an additional 5,475 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Collective Mining by 6.3% during the first 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 in the last quarter. Cibc World Market Inc. acquired a new position in Collective Mining during the second quarter worth about $348,000. Finally, TD Asset Management Inc lifted 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 worth $1,042,000 after acquiring an additional 4,364 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded 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 data from MarketBeat.com, the company has an average rating of "Sell".

Collective Mining Stock Down 0.2%

Shares of Collective Mining stock opened at $15.09 on Wednesday. The company has a market capitalization of $1.40 billion, a PE ratio of -28.47 and a beta of -0.84. Collective Mining Ltd. has a twelve month low of $9.77 and a twelve month high of $21.97. The business has a fifty day simple moving average of $13.57. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01.

Collective Mining 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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