Collective Mining (TSE:CNL) Stock Price Down 9.6% – Here’s Why

Collective Mining Ltd. (TSE:CNL)’s share price traded down 9.6% on Wednesday . The company traded as low as C$20.89 and last traded at C$21.07. 220,574 shares were traded during trading, an increase of 15% from the average session volume of 192,325 shares. The stock had previously closed at C$23.31.

Collective Mining Stock Down 9.6%

The firm has a 50 day moving average of C$19.50 and a 200 day moving average of C$21.86. The firm has a market cap of C$1.96 billion, a price-to-earnings ratio of -34.00 and a beta of 1.34. The company has a quick ratio of 1.18, a current ratio of 3.99 and a debt-to-equity ratio of 12.64.

Collective Mining (TSE:CNL) last released its quarterly earnings data on Wednesday, August 12th. The company reported C($0.31) earnings per share for the quarter. As a group, sell-side analysts predict that Collective Mining Ltd. will post 0.0010018 earnings per share for the current year.

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. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.