Collective Mining (TSE:CNL) Hits New 52-Week High – Still a Buy?

Collective Mining Ltd. (TSE:CNL)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$8.66 and last traded at C$8.61, with a volume of 245880 shares trading hands. The stock had previously closed at C$8.32.

Analyst Ratings Changes

Separately, Scotiabank set a C$8.50 price objective on shares of Collective Mining and gave the stock an “outperform” rating in a research report on Monday, November 4th.

Collective Mining Stock Performance

The company has a fifty day moving average of C$6.42 and a two-hundred day moving average of C$4.93. The firm has a market capitalization of C$584.22 million, a price-to-earnings ratio of -18.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 7.26.

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.