Collective Mining (TSE:CNL) Reaches New 12-Month High – Here’s Why

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$6.78 and last traded at C$6.55, with a volume of 80995 shares changing hands. The stock had previously closed at C$6.36.

Analyst Upgrades and Downgrades

Separately, Scotiabank set a C$8.50 target price on shares of Collective Mining and gave the stock an “outperform” rating in a report on Monday, November 4th.

Collective Mining Price Performance

The business’s 50 day simple moving average is C$5.47 and its 200-day simple moving average is C$4.53. The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of C$449.09 million, a price-to-earnings ratio of -14.00 and a beta of 0.87.

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.