Collective Mining (TSE:CNL) Reaches New 52-Week High – Still a Buy?

Shares of Collective Mining Ltd. (TSE:CNL) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$7.82 and last traded at C$7.76, with a volume of 294499 shares traded. The stock had previously closed at C$7.62.

Wall Street Analyst Weigh In

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

Collective Mining Price Performance

The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is C$6.14 and its 200 day moving average is C$4.82. The firm has a market capitalization of C$548.73 million, a price-to-earnings ratio of -17.11 and a beta of 0.87.

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.