Collective Mining (TSE:CNL) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Collective Mining Ltd. (TSE:CNL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.23 and traded as high as C$22.79. Collective Mining shares last traded at C$22.75, with a volume of 112,076 shares.

Collective Mining Price Performance

The company has a market cap of C$2.21 billion, a PE ratio of -46.86 and a beta of 0.55. 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 stock has a 50-day simple moving average of C$21.64 and a 200 day simple moving average of C$18.31.

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. 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.