Collective Mining (TSE:CNL) Shares Down 8.4% – Here’s What Happened

Collective Mining Ltd. (TSE:CNL) dropped 8.4% during mid-day trading on Wednesday . The stock traded as low as C$12.93 and last traded at C$12.94. Approximately 165,203 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 151,376 shares. The stock had previously closed at C$14.13.

Analyst Ratings Changes

Separately, Scotiabank raised their price target on shares of Collective Mining from C$9.50 to C$12.00 and gave the company an “outperform” rating in a research report on Monday, March 17th.

Collective Mining Trading Down 1.1 %

The company has a debt-to-equity ratio of 1.20, a current ratio of 4.36 and a quick ratio of 1.18. The company has a market capitalization of C$672.99 million, a P/E ratio of -24.55 and a beta of 0.87. The firm has a fifty day moving average price of C$9.34 and a 200-day moving average price of C$6.30.

Collective Mining Company Profile

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the projection to production.