Collective Mining (TSE:CNL) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Collective Mining Ltd. (TSE:CNL)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.55 and traded as high as C$16.30. Collective Mining shares last traded at C$15.92, with a volume of 221,366 shares.

Wall Street Analysts Forecast Growth

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

Collective Mining Stock Performance

The stock has a 50 day moving average of C$16.73 and a 200 day moving average of C$15.57. The company has a market capitalization of C$1.47 billion, a price-to-earnings ratio of -31.22 and a beta of 0.56. The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20.

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.