Collective Mining (TSE:CNL) Stock Price Down 8.4% - What's Next?

Collective Mining Ltd. (TSE:CNL - Get Free Report) dropped 8.4% during mid-day trading on Wednesday . The stock traded as low as C$12.93 and last traded at C$12.94. Approximately 165,203 shares were traded during mid-day 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 Analyst Weigh In

Separately, Scotiabank upped their price objective on shares of Collective Mining from C$9.50 to C$12.00 and gave the company an "outperform" rating in a research report on Monday, March 17th.

Collective Mining Trading Down 1.1 %

The company has a market cap of C$672.99 million, a price-to-earnings ratio of -24.55 and a beta of 0.87. The business's 50 day moving average price is C$9.45 and its 200-day moving average price is C$6.38. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.18 and a current ratio of 4.36.

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.