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

Collective Mining Ltd. (TSE:CNL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

Separately, National Bank Financial set a C$22.75 target price on Collective Mining and gave the stock an “outperform” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Collective Mining presently has a consensus rating of “Buy” and a consensus target price of C$17.38.

Collective Mining Price Performance

The firm has a 50-day simple moving average of C$21.52 and a two-hundred day simple moving average of C$18.23. 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 current ratio of 4.36, a quick ratio of 1.18 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. 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.