Shares of Collective Mining Ltd. (NYSEAMERICAN:CNL – Get Free Report) gapped down prior to trading on Wednesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock had previously closed at $12.99, but opened at $12.65. Collective Mining shares last traded at $12.68, with a volume of 3,312 shares trading hands.
Hedge Funds Weigh In On Collective Mining
Several hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new stake in Collective Mining during the 2nd quarter valued at approximately $61,000. Groupe la Francaise lifted its position 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 period. Amundi boosted its holdings in Collective Mining by 4.6% in 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. Finally, Pictet Asset Management Holding SA grew its position in Collective Mining by 6.3% during the 1st quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock worth $191,000 after purchasing an additional 649 shares during the period.
Collective Mining Stock Performance
The company has a market cap of $1.09 billion, a price-to-earnings ratio of -22.15 and a beta of -0.89. The firm’s 50 day moving average price is $14.49. The company has a current ratio of 4.77, a quick ratio of 4.77 and a debt-to-equity ratio of 0.01.
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.
See Also
- Five stocks we like better than Collective Mining
- Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
- Revving Up Returns: Big Banks Race Through the Rate Plateau
- Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
- Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test
Receive News & Ratings for Collective Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Collective Mining and related companies with MarketBeat.com's FREE daily email newsletter.
