Collective Mining (TSE:CNL) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Collective Mining Ltd. (TSE:CNL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$4.09 and traded as high as C$4.80. Collective Mining shares last traded at C$4.76, with a volume of 56,513 shares traded.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price target on Collective Mining from C$8.25 to C$8.75 in a research note on Tuesday, July 23rd.

Collective Mining Price Performance

The firm has a market capitalization of C$324.87 million, a P/E ratio of -10.13 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. The business’s 50 day moving average is C$4.36 and its 200-day moving average is C$4.09.

About Collective Mining

Collective Mining Ltd., an exploration and development company, focuses on identifying and exploring prospective gold projects in South America. The company explores for gold, silver, and copper deposits. It holds 100% interests in the Guayabales project consisting of 26 claims with a total area of 4,780.98 hectares located in the Caldas department of Colombia; and the San Antonio project covering an area of 4,729 hectares located in the department of Caldas, Colombia.