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

Collective Mining Ltd. (TSE:CNL)’s stock price passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$17.78 and traded as high as C$19.08. Collective Mining shares last traded at C$18.89, with a volume of 328,024 shares changing hands.

Collective Mining Price Performance

The stock has a market capitalization of C$1.75 billion, a P/E ratio of -30.47 and a beta of 1.14. The company has a current ratio of 3.99, a quick ratio of 1.18 and a debt-to-equity ratio of 12.64. The stock has a 50 day moving average of C$17.78 and a 200-day moving average of C$20.97.

Collective Mining (TSE:CNL) last posted its quarterly earnings results on Wednesday, August 12th. The company reported C($0.31) earnings per share for the quarter. On average, equities research analysts anticipate that Collective Mining Ltd. will post 0.00 earnings per share for the current fiscal year.

About Collective Mining

Founded by the team that developed and sold Continental Gold Inc to Zijin Mining for approximately $1.4 billion in enterprise value, Collective is a gold, silver, copper and tungsten exploration company with projects in Caldas, Colombia. The Company’s two projects are located directly within an established mining camp with ten fully permitted and operating mines. The Company’s flagship project, Guayabales, is anchored by Apollo, a large-scale, bulk-tonnage and high-grade gold-silver-copper-tungsten deposit that hosts a maiden Mineral Resource of 2.58 million ounces AuEq Indicated (37 Mt at a grade of 2.17 g/t AuEq) and 2.83 million ounces AuEq Inferred (48.2 Mt at a grade of 1.83 g/t AuEq).