Collective Mining (TSE:CNL) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Collective Mining Ltd. (TSE:CNL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$18.23 and traded as high as C$22.79. Collective Mining shares last traded at C$22.75, with a volume of 112,076 shares traded.

Analysts Set New Price Targets

Separately, National Bank Financial set a C$22.75 price target on shares of Collective Mining and gave the stock 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, the company currently has an average rating of “Buy” and a consensus price target of C$17.38.

Collective Mining Stock Up 3.2%

The company has a market capitalization of C$2.10 billion, a price-to-earnings ratio of -44.61 and a beta of 0.55. 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 business’s 50 day moving average is C$21.52 and its 200 day moving average is C$18.23.

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.