Collective Mining (TSE:CNL) Trading Down 8.4% – Should You Sell?

Collective Mining Ltd. (TSE:CNL)’s stock price was down 8.4% during trading on Wednesday . The company traded as low as C$12.93 and last traded at C$12.94. Approximately 165,203 shares traded hands during trading, an increase of 9% from the average daily volume of 151,376 shares. The stock had previously closed at C$14.13.

Wall Street Analysts Forecast Growth

Separately, Scotiabank increased their price objective on Collective Mining from C$9.50 to C$12.00 and gave the company an “outperform” rating in a report on Monday, March 17th.

Collective Mining Trading Down 9.7 %

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

Collective Mining Company Profile

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.