Collective Mining (TSE:CNL) Reaches New 52-Week High – Time to Buy?

Collective Mining Ltd. (TSE:CNL)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$23.08 and last traded at C$22.51, with a volume of 48874 shares. The stock had previously closed at C$21.83.

Analysts Set New Price Targets

Separately, National Bankshares set a C$22.75 target price on shares of 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 presently has an average rating of “Buy” and an average target price of C$17.38.

Collective Mining Trading Up 0.1%

The business’s 50-day moving average price is C$18.04 and its 200-day moving average price is C$16.76. The firm has a market capitalization of C$2.02 billion, a PE ratio of -42.86 and a beta of 0.73. The company has a debt-to-equity ratio of 1.20, a current ratio of 4.36 and a quick ratio of 1.18.

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. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.