Collective Mining (TSE:CNL) Hits New 52-Week High – Should You Buy?

Collective Mining Ltd. (TSE:CNL) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as C$15.27 and last traded at C$14.78, with a volume of 269517 shares. The stock had previously closed at C$14.71.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their target price on shares of Collective Mining from C$9.50 to C$12.00 and gave the company an “outperform” rating in a report on Monday, March 17th.

Collective Mining Stock Performance

The company’s fifty day moving average is C$8.94 and its 200 day moving average is C$6.13. The company has a market cap of C$811.98 million, a P/E ratio of -29.63 and a beta of 0.87. The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20.

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.