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

Collective Mining Ltd. (TSE:CNL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.44 and traded as high as C$15.53. Collective Mining shares last traded at C$15.38, with a volume of 220,546 shares trading hands.

Analysts Set New Price Targets

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

Collective Mining Trading Up 2.1%

The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20. The firm’s fifty day moving average is C$17.58 and its two-hundred day moving average is C$15.44. The firm has a market cap of C$1.42 billion, a P/E ratio of -32.72 and a beta of 0.56.

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.