Collective Mining (TSE:CNL) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Collective Mining Ltd. (TSE:CNL) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.53 and traded as high as C$12.97. Collective Mining shares last traded at C$12.92, with a volume of 115,975 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective on shares of Collective Mining from C$9.50 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th.

Collective Mining Price Performance

The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20. The firm has a market cap of C$670.24 million, a price-to-earnings ratio of -24.45 and a beta of 0.87. The company has a 50 day moving average of C$10.04 and a 200 day moving average of C$6.63.

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.