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

Collective Mining Ltd. (TSE:CNL) shares reached a new 52-week high during trading on Thursday . The stock traded as high as C$6.50 and last traded at C$6.38, with a volume of 55575 shares changing hands. The stock had previously closed at C$6.36.

Analyst Ratings Changes

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

Collective Mining Price Performance

The business’s 50-day simple moving average is C$5.41 and its 200 day simple moving average is C$4.49. The company has a market capitalization of C$438.17 million, a P/E ratio of -13.66 and a beta of 0.87. The company has a current ratio of 7.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

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.