Collective Mining (NASDAQ:CNL) Shares Gap Down – Should You Sell?

Collective Mining Ltd. (NASDAQ:CNL) gapped down prior to trading on Friday. The stock had previously closed at $11.46, but opened at $10.49. Collective Mining shares last traded at $10.3350, with a volume of 2,792 shares trading hands.

Analyst Ratings Changes

CNL has been the topic of a number of recent research reports. Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Weiss Ratings started coverage on Collective Mining in a report on Thursday, August 13th. They issued a “sell (d-)” rating for the company. Two equities research analysts have rated the stock with a Sell rating. According to MarketBeat.com, Collective Mining presently has a consensus rating of “Sell”.

Collective Mining Stock Performance

The stock has a market cap of $961.93 million, a P/E ratio of -16.07 and a beta of -0.61. The company’s 50 day simple moving average is $13.58. The company has a current ratio of 3.99, a quick ratio of 3.99 and a debt-to-equity ratio of 0.01.

Institutional Trading of Collective Mining

Several large investors have recently added to or reduced their stakes in CNL. Public Employees Retirement System of Ohio acquired a new stake in shares of Collective Mining during the second quarter worth approximately $155,000. Bank of America Corp DE bought a new position in shares of Collective Mining in the second quarter valued at about $1,375,000. Finally, Groupe la Francaise lifted its position in shares of Collective Mining by 8.5% during the second quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock worth $6,278,000 after purchasing an additional 40,000 shares in the last quarter.

Collective Mining Company Profile

Collective Mining Ltd. is a mineral exploration and development company focused on discovering and advancing precious- and base-metal deposits in Colombia. The company’s activities center on exploration, resource evaluation, and project development rather than producing or selling minerals.

Collective Mining’s principal assets include the Guayabales project and the Apollo system in Colombia’s Caldas department. Guayabales is a high-grade gold-silver-copper exploration project, while Apollo represents an additional mineralized system within the company’s broader Colombian portfolio.