Collective Mining Ltd. (NYSEAMERICAN:CNL – Get Free Report)’s share price traded down 7.5% during trading on Wednesday . The stock traded as low as $11.63 and last traded at $11.63. 17,596 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 67,295 shares. The stock had previously closed at $12.57.
Collective Mining Price Performance
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 stock’s fifty day simple moving average is $15.31. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -22.53 and a beta of -0.89.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. 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. Groupe la Francaise lifted its holdings in Collective Mining by 88.0% during the first quarter. Groupe la Francaise now owns 470,000 shares of the company’s stock valued at $8,227,000 after purchasing an additional 220,000 shares during the last quarter. Finally, Amundi lifted its holdings in Collective Mining by 4.6% during the first quarter. Amundi now owns 760,602 shares of the company’s stock valued at $13,394,000 after purchasing an additional 33,239 shares during the last quarter.
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.
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