Collective Mining (TSE:CNL) Sets New 12-Month High – Still a Buy?

Collective Mining Ltd. (TSE:CNL) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$23.08 and last traded at C$22.51, with a volume of 48874 shares traded. The stock had previously closed at C$21.83.

Wall Street Analysts Forecast Growth

Separately, National Bankshares set a C$22.75 target price on shares of Collective Mining and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$17.38.

Collective Mining Price Performance

The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -42.86 and a beta of 0.73. The stock has a 50-day moving average price of C$18.04 and a 200 day moving average price of C$16.76. The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20.

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. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.