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

Shares of Collective Mining Ltd. (TSE:CNL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$15.36 and traded as high as C$16.19. Collective Mining shares last traded at C$15.54, with a volume of 124,530 shares trading hands.

Wall Street Analyst Weigh In

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

Collective Mining Stock Performance

The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20. The company has a 50 day simple moving average of C$17.85 and a 200-day simple moving average of C$15.36. The stock has a market capitalization of C$1.43 billion, a price-to-earnings ratio of -33.06 and a beta of 0.28.

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.