Collective Mining (TSE:CNL) Shares Down 8.4% – Here’s What Happened

Collective Mining Ltd. (TSE:CNL) fell 8.4% during mid-day trading on Wednesday . The company traded as low as C$12.93 and last traded at C$12.94. 165,203 shares traded hands during trading, an increase of 9% from the average session volume of 151,376 shares. The stock had previously closed at C$14.13.

Wall Street Analyst Weigh In

Separately, Scotiabank upped their target price on shares of Collective Mining from C$9.50 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, March 17th.

Collective Mining Stock Down 9.7 %

The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of C$701.01 million, a PE ratio of -25.58 and a beta of 0.87. The stock’s fifty day simple moving average is C$9.09 and its 200-day simple moving average is C$6.20.

About Collective Mining

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making a significant new mineral discovery and advancing the projection to production.