Collective Mining (CNL)
Market Price (10/29/2026): $11.52 | Market Cap: $1.1 BilSector: Materials | Industry: Gold
Collective Mining (CNL)
Market Price (10/29/2026): $11.52Market Cap: $1.1 BilSector: MaterialsIndustry: Gold
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Battery Technology & Metals, and Renewable Energy Transition. Themes include Advanced Battery Components, and Battery Storage & Grid Modernization. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.75 | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -57 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% Key risksCNL key risks include [1] the speculative success of its exploration activities as a pre-revenue company and [2] operational and political uncertainties related to its jurisdiction in Colombia. |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, and Renewable Energy Transition. Themes include Advanced Battery Components, and Battery Storage & Grid Modernization. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 12.75 |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -57 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksCNL key risks include [1] the speculative success of its exploration activities as a pre-revenue company and [2] operational and political uncertainties related to its jurisdiction in Colombia. |
Qualitative Assessment
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Collective Mining (CNL) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Weaker-than-expected fiscal Q2 2026 financial results. Collective Mining reported an Earnings Per Share (EPS) of -$0.22 on August 12, 2026, for the fiscal quarter ending June 30, 2026. This figure significantly missed analyst estimates of -$0.13, resulting in an earnings surprise of -69.2%. The company has a history of inconsistent earnings performance, having exceeded EPS estimates in none of its last four reports, with an average earnings surprise of -51.8% over that period.
2. Decline in gold prices due to macroeconomic factors. Gold prices experienced a substantial downturn, falling 3.65% over the month leading up to October 28, 2026. Specifically, spot gold dropped to $4,093 an ounce on October 14, 2026, marking a 26% decrease from its record high in January 2026. This decline was largely driven by the Federal Reserve's interest rate hike on September 16, 2026, and rising Treasury yields, which increased the opportunity cost of holding non-yielding assets like gold, making fiat currencies more attractive.
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Collective Mining (CNL) stock has lost about 5% since 6/30/2026 because of the following key factors:
1. Weaker-than-expected fiscal Q2 2026 financial results. Collective Mining reported an Earnings Per Share (EPS) of -$0.22 on August 12, 2026, for the fiscal quarter ending June 30, 2026. This figure significantly missed analyst estimates of -$0.13, resulting in an earnings surprise of -69.2%. The company has a history of inconsistent earnings performance, having exceeded EPS estimates in none of its last four reports, with an average earnings surprise of -51.8% over that period.
2. Decline in gold prices due to macroeconomic factors. Gold prices experienced a substantial downturn, falling 3.65% over the month leading up to October 28, 2026. Specifically, spot gold dropped to $4,093 an ounce on October 14, 2026, marking a 26% decrease from its record high in January 2026. This decline was largely driven by the Federal Reserve's interest rate hike on September 16, 2026, and rising Treasury yields, which increased the opportunity cost of holding non-yielding assets like gold, making fiat currencies more attractive.
3. Recent volatility and decline in copper prices. While copper prices showed upward momentum during fiscal Q3 2026, peaking at an all-time high of US$6.89 per pound on September 9, 2026, they have since retreated. Copper fell to a five-week low of $14,031 per metric ton on October 22, 2026, and lost 4.69% in the four weeks leading to October 22, 2026. This recent downward pressure on a key commodity for Collective Mining was primarily influenced by rising inventories in London Metal Exchange (LME) warehouses and broader macroeconomic concerns.
4. Persistent exploration uncertainties and challenges in accessing capital. Analysts continue to highlight inherent risks for Collective Mining, an exploration and development company. These include uncertainties surrounding its ability to define additional resources and the critical challenge of securing capital for ongoing exploration and project development. Despite positive exploration updates, such as the announcement on September 3, 2026, of new drilling targets (Orion and Victory) and a maiden Mineral Resource for the Apollo Deposit on September 8, 2026, these long-standing concerns contribute to a negative investor outlook for the company.
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Stock Movement Drivers
Fundamental Drivers
The -5.6% change in CNL stock from 6/30/2026 to 10/28/2026 was primarily driven by a -0.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 6302026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.25 | 11.57 | -5.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 93 | 93 | -0.2% |
| Cumulative Contribution | 0.0% |
Market Drivers
6/30/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CNL | -5.6% | |
| Market (SPY) | 3.4% | 49.9% |
| Sector (XLB) | 2.0% | 47.4% |
Fundamental Drivers
The -34.3% change in CNL stock from 3/31/2026 to 10/28/2026 was primarily driven by a 0.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.61 | 11.57 | -34.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 93 | 93 | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2026 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CNL | -34.3% | |
| Market (SPY) | 19.1% | 53.3% |
| Sector (XLB) | 4.2% | 48.7% |
Fundamental Drivers
The -19.9% change in CNL stock from 9/30/2025 to 10/28/2026 was primarily driven by a -15.1% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 9302025 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 14.45 | 11.57 | -19.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 79 | 93 | -15.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
9/30/2025 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CNL | -19.9% | |
| Market (SPY) | 16.9% | 43.1% |
| Sector (XLB) | 17.3% | 45.2% |
Fundamental Drivers
The 232.9% change in CNL stock from 9/30/2023 to 10/28/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10282026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.48 | 11.57 | 232.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 0 | 0.0% |
| P/S Multiple | ∞ | ∞ | 0.0% |
| Shares Outstanding (Mil) | 60 | 93 | -35.1% |
| Cumulative Contribution | 0.0% |
Market Drivers
9/30/2023 to 10/28/2026| Return | Correlation | |
|---|---|---|
| CNL | 232.9% | |
| Market (SPY) | 86.9% | 23.2% |
| Sector (XLB) | 39.2% | 28.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CNL Return | -30% | -13% | 67% | 30% | 251% | -23% | 257% |
| Peers Return | -24% | -16% | 0% | -1% | 165% | -2% | 68% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| CNL Win Rate | 17% | 42% | 42% | 58% | 75% | 50% | |
| Peers Win Rate | 38% | 42% | 48% | 42% | 73% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CNL Max Drawdown | - | -50% | -47% | -37% | -33% | -50% | |
| Peers Max Drawdown | -42% | -50% | -34% | -32% | -20% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: B, FNV, FSM, OGG, PZG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/28/2026 (YTD)
How Low Can It Go
| Event | CNL | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.5% | -9.5% |
| % Gain to Breakeven | 65.3% | 10.5% |
| Time to Breakeven | 428 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -12.3% | -6.7% |
| % Gain to Breakeven | 14.0% | 7.1% |
| Time to Breakeven | 1 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -34.3% | -24.5% |
| % Gain to Breakeven | 52.1% | 32.4% |
| Time to Breakeven | 119 days | 427 days |
In The Past
Collective Mining's stock fell -1.8% during the 2025 US Tariff Shock. Such a loss loss requires a 1.8% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | CNL | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -39.5% | -9.5% |
| % Gain to Breakeven | 65.3% | 10.5% |
| Time to Breakeven | 428 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -34.3% | -24.5% |
| % Gain to Breakeven | 52.1% | 32.4% |
| Time to Breakeven | 119 days | 427 days |
In The Past
Collective Mining's stock fell -1.8% during the 2025 US Tariff Shock. Such a loss loss requires a 1.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Collective Mining (CNL)
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- Mineral Exploration and Development: Focusing on the discovery and advancement of high-grade gold and silver mineral deposits, primarily in Colombia.
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Collective Mining (symbol: CNL) is an exploration and development company focused on discovering and defining high-grade gold, silver, and copper deposits in Colombia. As an exploration-stage company, it is not currently engaged in the commercial production and sale of minerals. Therefore, Collective Mining does not have major customers in the traditional sense of companies or individuals purchasing its products or services.
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Ned Jalil, Chief Executive Officer
Ned Jalil was appointed CEO of Collective Mining on April 22, 2025. He brings over 25 years of global experience in the mining industry, encompassing gold, silver, copper, and nickel projects. He has a proven track record of leading projects from exploration through to feasibility, construction, and production. Prior to joining Collective Mining, Mr. Jalil held senior executive roles with Kinross Gold and Appian Capital. As Chief Technical Officer at Kinross, he was instrumental in advancing key assets such as the Great Bear and Manh Choh projects. At Appian Capital, he led the MVV Copper-Gold Project to completion ahead of schedule and under budget.
Paul Begin, Chief Financial Officer and Corporate Secretary
Paul Begin is a co-founder of Collective Mining and serves as the Chief Financial Officer and Corporate Secretary. He is a finance expert known for his ability to manage capital structures and drive economic efficiency, ensuring the company's financial robustness through his expertise in securing financing and overseeing corporate governance. Before Collective Mining, Mr. Begin served as CFO for Continental Gold for a decade, where he played a crucial role in discovering over 11 million ounces of high-grade gold in Colombia, permitting the project, raising financing (including $500 million in debt packages), building, and commissioning the mine. Continental Gold was ultimately sold to Zijin Mining for an enterprise value of $2 billion in March 2020.
Omar Ossma, President
Omar Ossma is the President of Collective Mining, continuing in this role after Ned Jalil's appointment as CEO. A seasoned executive, Mr. Ossma possesses extensive experience in financial strategy and project development. He previously served as the Legal Vice President for Continental Gold, where he was instrumental in the company's strategy for licensing, building, and operating the Buriticá Project, which became Colombia's largest gold mine. As a native Colombian and a lawyer, he is recognized for his expertise in navigating the complex regulatory environment in Colombia and fostering strong relationships with local communities.
Ari Sussman, Executive Chairman of the Board
Ari Sussman is the Executive Chairman of the Board and a co-founder of Collective Mining. He founded, served as CEO, and was a Director of Continental Gold Inc. from 2010 until its acquisition in March 2020. Under his leadership, Continental Gold raised nearly $1 billion and discovered more than 11 million ounces of high-grade gold and silver at the Buriticá project in Colombia. Following the completion of the mine's construction, Continental Gold was sold to Zijin Mining for approximately C$2 billion in March 2020.
Carlos Andrés Santos, Executive Vice President
Carlos Andrés Santos was appointed Executive Vice President on January 19, 2026. He brings over two decades of senior leadership experience in strategy, operations, transformation, and corporate services across the Americas, with a notable track record in Colombia's resource sector. Before joining Collective Mining, Mr. Santos served as CEO of Americas Business Services at Holcim / Amrize, where he spearheaded regional growth and cash-generation strategies from Canada to Argentina. He also held key executive positions at Ecopetrol S.A., Colombia's largest integrated energy company, including Vice President of Supply Chain & Shared Services.
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The key risks to Collective Mining's business, trading under the symbol CNL, are primarily associated with the inherent uncertainties of mineral exploration and development, alongside specific regulatory and operational challenges in Colombia.
- Regulatory and Operational Compliance in Colombia: Collective Mining faces significant risks related to its operational and regulatory compliance in Colombia. The company has categorically rejected allegations of conducting exploration activities on untitled land and in environmentally restricted areas. However, reports indicate that some concession applications have been suspended due to environmental concerns, and such issues, including incomplete cells within or next to titles, are not uncommon in the Colombian mining industry. These challenges could restrict mining activities and impact the company's ability to obtain necessary licenses, permits, and approvals from governmental authorities, potentially jeopardizing the future of its flagship projects like Apollo within the Guayabales project.
- Early-Stage Exploration and Development Uncertainties: As an exploration and development company, Collective Mining is in a formative stage, lacking revenue and experiencing ongoing losses. The success of the business is inherently speculative and depends on various factors, including the actual results of current exploration activities, possible variations in mineralization, grade or recovery rates, and the conclusions of future economic evaluations. There is no guarantee that exploration efforts will lead to commercially viable discoveries or that projects will successfully advance to production.
- Commodity Price and Financial Market Fluctuations: Collective Mining is exposed to the volatility of spot and forward prices for gold, silver, copper, and other base metals, as well as fluctuations in currency markets. For an exploration company with no current revenue, metal prices significantly influence the perceived value of its future production and its ability to attract further investment. Furthermore, the company's high Price-to-Book (P/B) multiple suggests that its valuation is heavily reliant on market sentiment and the potential of its resources, making it susceptible to compression if investor enthusiasm wanes or broader securities markets experience downturns.
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Collective Mining (symbol: CNL) is an exploration company primarily focused on gold, silver, copper, and tungsten. The addressable markets for these main products are global.
The estimated global market sizes for Collective Mining's main products are:
- Gold: The global gold market size was valued at approximately 4,890.0 tons in 2025 and is projected to grow to 5,118.1 tons in 2026. In terms of value, the global gold mining market was estimated at USD 308.07 billion in 2025. Total global gold demand, including over-the-counter transactions, exceeded 5,000 tonnes in 2025.
- Silver: The global silver market size was valued at USD 95.20 billion in 2025 and is projected to reach USD 202.07 billion by 2033. In terms of volume, the global silver market size was 37.78 kilotons in 2025, estimated to grow to 39.53 kilotons in 2026. Global silver demand in 2025 was approximately 1.12 billion ounces.
- Copper: The global copper products market size was calculated at USD 375.85 billion in 2025 and is predicted to increase to USD 397.09 billion in 2026. The global copper market size was estimated at USD 349.14 billion in 2025 and is expected to reach around USD 573.24 billion by 2035.
- Tungsten: The global tungsten market size was valued at approximately USD 7.3 billion in 2025 and is poised to expand to USD 7.6 billion in 2026. Another estimate places the global tungsten market size at USD 5.14 billion in 2025, projected to reach USD 5.56 billion in 2026. The market volume was 134.75 kilotons in 2025, estimated to grow to 141.02 kilotons in 2026.
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Collective Mining (CNL), currently an exploration-stage company, anticipates future revenue growth through several key drivers primarily focused on advancing its flagship Guayabales Project in Colombia towards production.
- Expansion and Upgrading of Mineral Resources: A primary driver for future revenue will be the successful expansion and upgrading of mineral resources, particularly at the high-grade Apollo and Trap systems within the Guayabales Project. Ongoing and planned drilling programs, such as the 60,000-meter drilling program for 2025 and 2026, aim to delineate and extend high-grade discoveries and improve resource estimations. Positive results, including high-grade intercepts from zones like the Ramp Zone within Apollo, are crucial for enhancing the project's economic viability and ultimately the scale of potential future production.
- Advancement Through Mine Development Milestones: Collective Mining's progression of the Guayabales Project through critical development stages toward a production decision will be a significant revenue driver. This includes the recent acquisition of all remaining surface rights necessary for a future mining operation at Guayabales. The planned commencement of an exploration adit in Q4 2026, which will support geological understanding and facilitate future scoping and feasibility studies, is a direct step towards establishing a revenue-generating mine.
- Leveraging Polymetallic Deposits: The polymetallic nature of the Apollo system, which is enriched in gold, copper, tungsten, and silver, presents multiple potential revenue streams once in production. Focusing on the economic recovery of these diverse metals can enhance overall project economics and contribute to robust future revenue.
- Favorable Commodity Prices: While external to the company's direct operational control, sustained favorable market prices for gold, silver, copper, and tungsten will be a critical driver of future revenue. The profitability of Collective Mining's projects is inherently linked to the fluctuating prices of these metals. Maintaining a focus on low-cost, high-grade discoveries helps mitigate price volatility, but strong commodity markets will maximize revenue generation.
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Share Issuance
- In October 2025, Collective Mining closed an upsized public offering of 6,600,000 common shares at C$19.00 per share, generating C$125,400,000 in gross proceeds.
- Concurrently in October 2025, the company completed a non-brokered private placement with Agnico Eagle Mines Limited, where Agnico Eagle purchased 789,473 shares for approximately C$15 million.
- In March 2025, Agnico Eagle Mines Limited subscribed for 4,741,984 common shares at C$11.00 per share for approximately C$52.1 million and exercised warrants for an additional C$11,272,500, totaling C$63.4 million in gross proceeds.
Inbound Investments
- Agnico Eagle Mines Limited made a significant investment in Collective Mining, increasing its ownership interest to approximately 14.99% through a C$52.1 million share subscription and the exercise of C$11.27 million in warrants in March 2025.
- In October 2025, Agnico Eagle Mines Limited further invested approximately C$15 million in Collective Mining through a non-brokered private placement.
- Collective Mining closed a C$18.9 million strategic investment in March 2024.
Capital Expenditures
- In 2025, Collective Mining planned an expanded 70,000-meter drill program at its Guayabales and San Antonio projects, fully funded by its treasury which exceeded $78 million USD.
- The net proceeds from the C$140 million financings in October 2025 are intended to fund ongoing work programs, including exploration activities, technical studies, and underground development on the Guayabales Project.
- In March 2026, Collective Mining announced the acquisition of remaining surface rights for a future mining operation at the Guayabales Project for US$44.0 million, payable in installments over five years, signifying a major step towards developing the polymetallic deposit.
Peer Outperformance in Gold
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Steel | 14 | 24.0% | 44.9% | 140.8% | STLD 311% · HCC 278% · RS 228% |
| Copper | 7 | 46.5% | 118.8% | 134.2% | SCCO 287% · TGB 276% · HBM 237% |
| Gold ← | 36 | 7.6% | 171.3% | 105.8% | IAG 490% · OGC 373% · AGI 322% |
| Silver | 6 | 31.0% | 260.7% | 82.9% | AYA 235% · HL 150% · EXK 53% |
| Aluminum | 3 | 19.6% | 146.5% | 44.9% | CENX 144% · AA -9% |
| Construction Materials | 6 | -16.9% | 30.0% | 39.8% | USLM 354% · CRH 91% · VMC 46% |
| Diversified Metals & Mining | 23 | -53.7% | -3.1% | 2.3% | USAR 35068% · MTRN 245% · MP 18% |
| Metal, Glass & Plastic Containers | 11 | -6.5% | 10.9% | 1.5% | GEF 49% · ATR 7% · SLGN 2% |
| Paper & Plastic Packaging Products & Materials | 7 | 9.6% | 18.8% | -3.5% | PKG 107% · CCK 17% · SON 1% |
| Diversified Chemicals | 3 | 6.4% | 3.8% | -16.0% | CBT 53% · ASH -16% · CC -44% |
| Specialty Chemicals | 41 | 10.2% | 11.1% | -19.2% | NEU 201% · ESI 69% · SXT 55% |
| Commodity Chemicals | 13 | 3.7% | -15.7% | -33.6% | HWKN 354% · MEOH 54% · DOW -21% |
| Precious Metals & Minerals | 8 | -5.7% | 143.3% | -47.3% | PPTA 279% |
| Fertilizers & Agricultural Chemicals | 10 | -47.2% | -54.5% | -61.5% | CF 131% · NTR 17% · MOS -50% |
| Paper Products | 4 | -41.4% | -61.4% | -83.0% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| CNL Stock Surges 32% With An 8-day Winning Spree On High-Grade Gold Discovery | 02/28/2026 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 10.54 |
| Mkt Cap | 24.3 |
| Rev LTM | 1,182 |
| Op Inc LTM | 575 |
| FCF LTM | 276 |
| FCF 3Y Avg | 141 |
| CFO LTM | 410 |
| CFO 3Y Avg | 236 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 61.5% |
| Rev Chg 3Y Avg | 26.6% |
| Rev Chg Q | 50.5% |
| QoQ Delta Rev Chg LTM | 9.3% |
| Op Inc Chg LTM | 93.4% |
| Op Inc Chg 3Y Avg | 39.0% |
| Op Mgn LTM | 50.4% |
| Op Mgn 3Y Avg | 36.1% |
| QoQ Delta Op Mgn LTM | 2.3% |
| CFO/Rev LTM | 45.5% |
| CFO/Rev 3Y Avg | 38.9% |
| FCF/Rev LTM | 25.1% |
| FCF/Rev 3Y Avg | 15.0% |
Price Behavior
| Market Price | $11.57 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 07/14/2021 | |
| Distance from 52W High | -44.3% | |
| 50 Days | 200 Days | |
| DMA Price | $13.27 | $15.31 |
| DMA Trend | down | down |
| Distance from DMA | -12.8% | -24.4% |
| 3M | 1YR | |
| Volatility | 58.6% | 69.5% |
| Downside Capture | 418.77 | 302.12 |
| Upside Capture | 263.77 | 266.16 |
| Correlation (S&P 500) | 49.4% | 48.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.88 | 2.56 | 2.60 | 2.63 | 2.27 | 0.87 |
| Up Beta | -2.54 | 0.46 | 1.83 | 1.92 | 2.22 | 0.63 |
| Down Beta | 8.13 | 6.95 | 3.88 | 3.81 | 1.75 | 0.51 |
| Up Capture | 204% | 279% | 282% | 205% | 401% | 272% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 7 | 21 | 33 | 59 | 131 | 345 |
| Down Capture | 449% | 282% | 241% | 261% | 171% | 104% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 15 | 21 | 31 | 67 | 121 | 339 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNL | |
|---|---|---|---|---|
| CNL | 3.6% | 69.5% | 0.33 | - |
| Sector ETF (XLB) | 18.2% | 17.7% | 0.78 | 47.7% |
| Equity (SPY) | 13.7% | 12.7% | 0.72 | 47.6% |
| Gold (GLD) | 1.8% | 28.3% | 0.05 | 67.2% |
| Commodities (DBC) | 48.4% | 20.6% | 1.80 | 2.6% |
| Real Estate (VNQ) | 2.8% | 13.9% | -0.05 | 16.2% |
| Bitcoin (BTCUSD) | -29.4% | 43.4% | -0.68 | 31.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNL | |
|---|---|---|---|---|
| CNL | 32.6% | 66.2% | 0.95 | - |
| Sector ETF (XLB) | 6.0% | 19.1% | 0.20 | 26.2% |
| Equity (SPY) | 12.7% | 17.1% | 0.56 | 21.1% |
| Gold (GLD) | 17.5% | 18.9% | 0.74 | 47.1% |
| Commodities (DBC) | 9.1% | 19.5% | 0.35 | 8.4% |
| Real Estate (VNQ) | 0.6% | 18.9% | -0.08 | 11.4% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 13.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CNL | |
|---|---|---|---|---|
| CNL | 13.9% | 66.2% | 0.89 | - |
| Sector ETF (XLB) | 10.4% | 20.7% | 0.44 | 26.0% |
| Equity (SPY) | 15.5% | 17.9% | 0.73 | 20.9% |
| Gold (GLD) | 12.0% | 16.4% | 0.60 | 46.5% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 8.4% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 11.3% |
| Bitcoin (BTCUSD) | 62.3% | 66.2% | 1.02 | 12.7% |
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Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
Investor Activity (13F)
Updated Oct 29, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Gold Resources |
| Kitco News |
| World Gold Council |
| Mining Journal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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