Collective Mining (TSE:CNL) Reaches New 1-Year High – Here’s Why

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during trading on Tuesday . The company traded as high as C$8.66 and last traded at C$8.61, with a volume of 245880 shares trading hands. The stock had previously closed at C$8.32.

Wall Street Analyst Weigh In

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

Collective Mining Price Performance

The company has a market capitalization of C$587.63 million, a P/E ratio of -18.32 and a beta of 0.87. 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 business has a 50 day simple moving average of C$6.27 and a 200-day simple moving average of C$4.87.

Collective Mining Company Profile

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.