Collective Mining (TSE:CNL) Sets New 12-Month High – Should You Buy?

Shares of Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$5.41 and last traded at C$5.23, with a volume of 97050 shares trading hands. The stock had previously closed at C$5.05.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their price objective on shares of Collective Mining from C$8.25 to C$8.75 in a research note on Tuesday, July 23rd.

Collective Mining Stock Performance

The stock’s fifty day moving average price is C$4.42 and its two-hundred day moving average price is C$4.11. The company has a market cap of C$357.63 million, a P/E ratio of -10.74 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 7.26.

About Collective Mining

Collective Mining Ltd., an exploration and development company, focuses on identifying and exploring prospective gold projects in South America. The company explores for gold, silver, and copper deposits. It holds 100% interests in the Guayabales project consisting of 26 claims with a total area of 4,780.98 hectares located in the Caldas department of Colombia; and the San Antonio project covering an area of 4,729 hectares located in the department of Caldas, Colombia.