Collective Mining (TSE:CNL) Shares Pass Above 200-Day Moving Average – What’s Next?

Collective Mining Ltd. (TSE:CNL) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.44 and traded as high as C$15.53. Collective Mining shares last traded at C$15.38, with a volume of 220,546 shares.

Analyst Upgrades and Downgrades

Separately, National Bankshares set a C$22.75 price objective on Collective Mining and gave the company an “outperform” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Collective Mining currently has an average rating of “Buy” and a consensus price target 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 fifty day moving average price of C$17.58 and a 200 day moving average price of C$15.44. The stock has a market cap of C$1.42 billion, a PE ratio of -32.72 and a beta of 0.56.

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.