Collective Mining (NYSEAMERICAN:CNL) Shares Gap Up – What’s Next?

Collective Mining Ltd. (NYSEAMERICAN:CNL)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $13.38, but opened at $14.12. Collective Mining shares last traded at $14.02, with a volume of 1,901 shares changing hands.

Analyst Ratings Changes

Separately, Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Collective Mining Trading Up 1.0%

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 company has a market cap of $1.35 billion, a price-to-earnings ratio of -27.38 and a beta of -0.84. The firm’s fifty day simple moving average is $13.26.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Pictet Asset Management Holding SA raised its stake in shares of 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 in the last quarter. TD Asset Management Inc grew its stake in shares of 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. FNY Investment Advisers LLC acquired a new position in Collective Mining in the second quarter worth approximately $61,000. Deutsche Bank AG increased its holdings in Collective Mining by 244.4% in the second quarter. Deutsche Bank AG now owns 7,715 shares of the company’s stock worth $95,000 after buying an additional 5,475 shares during the last quarter. Finally, Amundi raised its position 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 acquiring an additional 33,239 shares in 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.