Canaccord Genuity Group Raises Collective Mining (TSE:CNL) Price Target to C$8.75

Collective Mining (TSE:CNL) had its price objective upped by Canaccord Genuity Group from C$8.25 to C$8.75 in a research report report published on Tuesday, BayStreet.CA reports.

Several other analysts have also recently weighed in on the stock. BMO Capital Markets set a C$8.25 price objective on shares of Collective Mining and gave the stock an outperform rating in a research note on Wednesday, June 19th. Ventum Financial upped their price objective on shares of Collective Mining from C$8.50 to C$8.70 in a research note on Tuesday, May 28th.

Collective Mining Price Performance

Shares of Collective Mining stock opened at C$3.63 on Tuesday. The company has a current ratio of 3.49, a quick ratio of 1.18 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of C$247.53 million, a price-to-earnings ratio of -8.07 and a beta of 0.67. Collective Mining has a 1-year low of C$3.02 and a 1-year high of C$6.53. The firm’s 50-day moving average price is C$3.70 and its two-hundred day moving average price is C$4.01.

Insider Activity

In related news, insider Pasquale Dicapo purchased 100,000 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were acquired at an average cost of C$3.25 per share, with a total value of C$325,000.00. In other Collective Mining news, insider Pasquale Dicapo acquired 100,000 shares of Collective Mining stock in a transaction on Friday, July 12th. The shares were purchased at an average cost of C$3.25 per share, with a total value of C$325,000.00. Also, Director Ari B. Sussman acquired 25,000 shares of Collective Mining stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of C$3.10 per share, for a total transaction of C$77,500.00. Insiders have purchased 130,000 shares of company stock valued at $418,600 over the last three months. 33.66% of the stock is owned by insiders.

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.