Collective Mining (NYSEAMERICAN:CNL) Shares Gap Down – Here’s What Happened

Collective Mining Ltd. (NYSEAMERICAN:CNL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $13.81, but opened at $12.50. Collective Mining shares last traded at $12.64, with a volume of 6,259 shares changing hands.

Collective Mining Stock Performance

The company has a 50-day moving average price of $16.74. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -23.72 and a beta of -1.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.77 and a current ratio of 4.77.

Institutional Trading of Collective Mining

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its holdings in shares of Collective Mining by 6.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock valued at $191,000 after buying an additional 649 shares in the last quarter. Groupe la Francaise raised its stake in Collective Mining by 88.0% during the 1st quarter. Groupe la Francaise now owns 470,000 shares of the company’s stock worth $8,227,000 after acquiring an additional 220,000 shares in the last quarter. Finally, Amundi boosted its stake 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 acquiring an additional 33,239 shares in the last quarter.

Collective Mining Company Profile

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.