Collective Mining (TSE:CNL) Trading Up 6.1% – What’s Next?

Collective Mining Ltd. (TSE:CNL)’s share price rose 6.1% during trading on Tuesday . The stock traded as high as C$5.73 and last traded at C$5.73. Approximately 111,228 shares were traded during trading, an increase of 113% from the average daily volume of 52,249 shares. The stock had previously closed at C$5.40.

Wall Street Analyst Weigh In

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

Collective Mining Stock Performance

The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95. The business has a 50 day simple moving average of C$4.95 and a 200 day simple moving average of C$4.29. The company has a market capitalization of C$397.90 million, a PE ratio of -12.26 and a beta of 0.87.

About Collective Mining

Collective Mining Ltd., an exploration and development company, focuses on identifying and exploring prospective gold projects in South America. The company explores for gold, silver, and copper deposits. It holds 100% interests in the Guayabales project consisting of 26 claims with a total area of 4,780.98 hectares located in the Caldas department of Colombia; and the San Antonio project covering an area of 4,729 hectares located in the department of Caldas, Colombia.