Collective Mining (TSE:CNL) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Collective Mining Ltd. (TSE:CNL) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$15.36 and traded as high as C$16.19. Collective Mining shares last traded at C$15.54, with a volume of 124,530 shares traded.

Wall Street Analysts Forecast Growth

Separately, National Bankshares set a C$22.75 price target on Collective Mining and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$17.38.

Collective Mining Stock Performance

The company has a debt-to-equity ratio of 1.20, a current ratio of 4.36 and a quick ratio of 1.18. The stock has a 50-day simple moving average of C$17.85 and a 200-day simple moving average of C$15.36. The stock has a market cap of C$1.43 billion, a P/E ratio of -33.06 and a beta of 0.28.

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.