Collective Mining (TSE:CNL) Hits New 52-Week High – What’s Next?

Collective Mining Ltd. (TSE:CNL)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$23.94 and last traded at C$22.93, with a volume of 304830 shares trading hands. The stock had previously closed at C$22.65.

Analyst Upgrades and Downgrades

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

Collective Mining Stock Up 1.2%

The business’s 50 day moving average price is C$18.65 and its 200-day moving average price is C$16.99. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.18 and a current ratio of 4.36. The firm has a market capitalization of C$2.12 billion, a PE ratio of -44.96 and a beta of 0.73.

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. 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.