Collective Mining (NYSEAMERICAN:CNL) Shares Gap Up – Time to Buy?

Collective Mining Ltd. (NYSEAMERICAN:CNL)’s share 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.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Collective Mining from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Collective Mining Trading Down 0.6%

The company has a 50-day moving average price of $13.33. The company has a market cap of $1.30 billion, a P/E ratio of -26.51 and a beta of -0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.77 and a quick ratio of 4.77.

Institutional Investors Weigh In On Collective Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNL. Pictet Asset Management Holding SA lifted its position in Collective Mining by 6.3% in the first 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 during the period. TD Asset Management Inc boosted its stake in Collective Mining by 5.4% during the second 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 during the second quarter worth about $61,000. Deutsche Bank AG grew its holdings in Collective Mining by 244.4% during the second quarter. Deutsche Bank AG now owns 7,715 shares of the company’s stock worth $95,000 after acquiring an additional 5,475 shares during the period. Finally, Amundi raised its position in Collective Mining by 4.6% in the first quarter. Amundi now owns 760,602 shares of the company’s stock worth $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.