Collective Mining (TSE:CNL) Reaches New 1-Year High – Still a Buy?

Shares of Collective Mining Ltd. (TSE:CNL) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$6.15 and last traded at C$6.10, with a volume of 33850 shares trading hands. The stock had previously closed at C$5.97.

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 report on Monday, November 4th.

Collective Mining Price Performance

The firm has a market capitalization of C$417.69 million, a P/E ratio of -13.02 and a beta of 0.87. The stock’s fifty day simple moving average is C$5.29 and its 200 day simple moving average is C$4.43. The company has a debt-to-equity ratio of 0.95, a current ratio of 7.26 and a quick ratio of 1.18.

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.