Collective Mining (TSE:CNL) Sets New 52-Week High – Time to Buy?

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during trading on Wednesday . The company traded as high as C$6.98 and last traded at C$6.82, with a volume of 14804 shares. The stock had previously closed at C$6.93.

Wall Street Analyst Weigh In

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

Collective Mining Stock Performance

The business has a 50 day moving average price of C$5.56 and a two-hundred day moving average price of C$4.58. The stock has a market cap of C$468.88 million, a P/E ratio of -14.62 and a beta of 0.87. The company has a quick ratio of 1.18, a current ratio of 7.26 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.