Collective Mining (TSE:CNL) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Collective Mining Ltd. (TSE:CNL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.06 and traded as high as C$15.66. Collective Mining shares last traded at C$15.22, with a volume of 108,460 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised their target price 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 Price Performance

The company has a 50 day moving average of C$13.70 and a two-hundred day moving average of C$9.06. The firm has a market cap of C$836.15 million, a P/E ratio of -30.51 and a beta of 0.87. The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20.

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.