Collective Mining (TSE:CNL) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Collective Mining Ltd. (TSE:CNL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$4.70 and traded as high as C$7.25. Collective Mining shares last traded at C$7.24, with a volume of 29,600 shares changing hands.

Wall Street Analysts Forecast Growth

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

Collective Mining Stock Performance

The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95. The company has a market capitalization of C$494.13 million, a price-to-earnings ratio of -15.40 and a beta of 0.87. The stock has a fifty day moving average price of C$5.85 and a two-hundred day moving average price of C$4.70.

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.