Collective Mining (TSE:CNL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Collective Mining Ltd. (TSE:CNL) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.95 and traded as high as C$13.69. Collective Mining shares last traded at C$13.24, with a volume of 102,242 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank raised their price objective on Collective Mining from C$9.50 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, March 17th.

Collective Mining Stock Performance

The company’s 50 day simple moving average is C$10.68 and its 200 day simple moving average is C$6.95. 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 stock has a market cap of C$727.38 million, a PE ratio of -26.54 and a beta of 0.87.

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.