Collective Mining (NYSEAMERICAN:CNL) Trading Up 7.2% – Still a Buy?

Collective Mining Ltd. (NYSEAMERICAN:CNL)’s stock price was up 7.2% on Wednesday . The stock traded as high as $16.18 and last traded at $16.17. Approximately 48,131 shares were traded during trading, a decline of 30% from the average session volume of 69,036 shares. The stock had previously closed at $15.09.

Analyst Upgrades and Downgrades

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

Collective Mining Price Performance

The company has a market cap of $1.49 billion, a price-to-earnings ratio of -30.38 and a beta of -0.84. The business’s 50-day moving average is $13.57. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Collective Mining

A number of institutional investors and hedge funds have recently modified their holdings of CNL. FNY Investment Advisers LLC purchased a new position in shares of Collective Mining during the second quarter valued at $61,000. Deutsche Bank AG lifted its stake in shares of Collective Mining by 244.4% during the 2nd quarter. Deutsche Bank AG now owns 7,715 shares of the company’s stock worth $95,000 after purchasing an additional 5,475 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Collective Mining by 6.3% during the first quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock valued at $191,000 after purchasing an additional 649 shares in the last quarter. Cibc World Market Inc. purchased a new position in Collective Mining in the second quarter valued at about $348,000. Finally, Legal & General Group Plc purchased a new stake in shares of Collective Mining during the second quarter valued at about $660,000.

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.