Collective Mining (TSE:CNL) Trading 6.1% Higher – Here’s What Happened

Collective Mining Ltd. (TSE:CNL) shot up 6.1% during mid-day trading on Tuesday . The stock traded as high as C$5.73 and last traded at C$5.73. 111,228 shares traded hands during trading, an increase of 113% from the average session volume of 52,249 shares. The stock had previously closed at C$5.40.

Wall Street Analyst Weigh In

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

Collective Mining Stock Performance

The business’s 50-day moving average price is C$5.01 and its 200-day moving average price is C$4.31. The company has a current ratio of 7.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of C$379.47 million, a PE ratio of -11.83 and a beta of 0.87.

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.