Collective Mining (NASDAQ:CNL) Stock Price Up 11.9% – Still a Buy?

Collective Mining Ltd. (NASDAQ:CNL)’s stock price traded up 11.9% during trading on Tuesday. The stock traded as high as $11.38 and last traded at $11.4350. 84,414 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 90,709 shares. The stock had previously closed at $10.22.

Analysts Set New Price Targets

CNL has been the topic of several research analyst reports. Zacks Research downgraded Collective Mining from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 13th. Weiss Ratings started coverage on Collective Mining in a research note on Thursday, August 13th. They set a “sell (d-)” rating for the company. Two analysts have rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Collective Mining Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 3.99. The stock’s 50-day moving average is $12.74. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -19.48 and a beta of -0.44.

Institutional Trading of Collective Mining

Several large investors have recently modified their holdings of the company. Groupe la Francaise increased its stake in shares of Collective Mining by 8.5% in the 2nd quarter. Groupe la Francaise now owns 510,000 shares of the company’s stock worth $6,278,000 after purchasing an additional 40,000 shares in the last quarter. Bank of America Corp DE purchased a new position in Collective Mining during the second quarter valued at $1,375,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Collective Mining during the second quarter valued at $155,000.

About Collective Mining

Collective Mining Ltd. is a mineral exploration and development company focused on discovering and advancing precious- and base-metal deposits in Colombia. The company’s activities center on exploration, resource evaluation, and project development rather than producing or selling minerals.

Collective Mining’s principal assets include the Guayabales project and the Apollo system in Colombia’s Caldas department. Guayabales is a high-grade gold-silver-copper exploration project, while Apollo represents an additional mineralized system within the company’s broader Colombian portfolio.