Collective Mining (TSE:CNL) Reaches New 1-Year High – Still a Buy?

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$6.98 and last traded at C$6.82, with a volume of 14804 shares changing hands. The stock had previously closed at C$6.93.

Analyst Upgrades and Downgrades

Separately, Scotiabank set a C$8.50 target price on Collective Mining and gave the company an “outperform” rating in a research report on Monday, November 4th.

Collective Mining Price Performance

The firm has a 50-day simple moving average of C$5.72 and a two-hundred day simple moving average of C$4.65. The company has a market capitalization of C$498.91 million, a price-to-earnings ratio of -15.55 and a beta of 0.87. The company has a current ratio of 7.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

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.