Collective Mining (TSE:CNL) Reaches New 12-Month High – Here’s What Happened

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during trading on Tuesday . The company traded as high as C$9.20 and last traded at C$9.20, with a volume of 164706 shares traded. The stock had previously closed at C$8.56.

Analysts Set New Price Targets

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

Collective Mining Stock Performance

The firm has a market cap of C$493.34 million, a P/E ratio of -18.00 and a beta of 0.87. The stock’s 50-day moving average price is C$6.98 and its 200 day moving average price is C$5.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 4.36 and a quick ratio of 1.18.

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.