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

Collective Mining Ltd. (TSE:CNL) hit a new 52-week high during trading on Thursday . The stock traded as high as C$6.78 and last traded at C$6.55, with a volume of 80995 shares. The stock had previously closed at C$6.36.

Analyst Upgrades and Downgrades

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

Collective Mining Stock Performance

The business has a fifty day moving average of C$5.53 and a 200 day moving average of C$4.56. The company has a market cap of C$447.04 million, a P/E ratio of -13.94 and a beta of 0.87. The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95.

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.