Collective Mining (TSE:CNL) Price Target Raised to C$12.00

Collective Mining (TSE:CNL) had its target price hoisted by research analysts at Scotiabank from C$9.50 to C$12.00 in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential downside of 2.99% from the stock’s previous close.

Collective Mining Trading Up 2.6 %

Shares of CNL stock traded up C$0.31 during mid-day trading on Monday, hitting C$12.37. 151,098 shares of the company’s stock were exchanged, compared to its average volume of 134,260. The stock has a 50-day simple moving average of C$8.04 and a two-hundred day simple moving average of C$5.74. The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20. Collective Mining has a fifty-two week low of C$3.02 and a fifty-two week high of C$12.50. The stock has a market cap of C$679.58 million, a price-to-earnings ratio of -24.79 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.