Collective Mining (NYSEAMERICAN:CNL) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Collective Mining Ltd. (NYSEAMERICAN:CNLGet Free Report) saw strong trading volume on Wednesday . Approximately 62,995 shares traded hands during mid-day trading, a decline of 10% from the previous session’s volume of 70,371 shares.The stock last traded at $15.58 and had previously closed at $16.94.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Get Our Latest Analysis on Collective Mining

Collective Mining Stock Down 2.3%

The stock has a fifty day moving average price of $14.07. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -27.64 and a beta of -0.84. The company has a quick ratio of 4.77, a current ratio of 4.77 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Collective Mining

A number of hedge funds 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 1st quarter. Pictet Asset Management Holding SA now owns 10,923 shares of the company’s stock valued at $191,000 after acquiring an additional 649 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of Collective Mining by 5.4% in the 2nd quarter. TD Asset Management Inc now owns 84,750 shares of the company’s stock worth $1,042,000 after purchasing an additional 4,364 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Collective Mining in the 2nd quarter worth $61,000. Deutsche Bank AG increased its holdings in shares of Collective Mining by 244.4% in 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 in the last quarter. Finally, Cibc World Market Inc. purchased a new position in shares of Collective Mining in the second quarter worth $348,000.

Collective Mining Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Collective Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Collective Mining and related companies with MarketBeat.com's FREE daily email newsletter.