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

Shares of Collective Mining Ltd. (NYSEAMERICAN:CNL) gapped up prior to trading on Tuesday . The stock had previously closed at $15.30, but opened at $15.87. Collective Mining shares last traded at $15.30, with a volume of 1,719 shares changing hands.

Collective Mining Stock Performance

The firm has a market cap of $1.34 billion, a P/E ratio of -27.17 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. The company’s 50 day simple moving average is $17.14.

Hedge Funds Weigh In On Collective Mining

Hedge funds have recently made changes to their positions in the business. Amundi raised its stake in shares of Collective Mining by 4.6% in the 1st quarter. Amundi now owns 760,602 shares of the company’s stock valued at $13,394,000 after buying an additional 33,239 shares in the last quarter. Groupe la Francaise raised its stake in shares of Collective Mining by 88.0% in the 1st quarter. Groupe la Francaise now owns 470,000 shares of the company’s stock valued at $8,227,000 after buying an additional 220,000 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake 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.

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.