Collective Mining (TSE:CNL) Hits New 1-Year 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 stock traded as high as C$13.35 and last traded at C$13.18, with a volume of 568245 shares changing hands. The stock had previously closed at C$12.24.

Wall Street Analyst Weigh In

Separately, Scotiabank upped their target price on shares of Collective Mining from C$9.50 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday.

Collective Mining Stock Performance

The company has a market capitalization of C$780.12 million, a P/E ratio of -28.46 and a beta of 0.87. The business has a 50 day moving average of C$8.60 and a 200 day moving average of C$5.97. The company has a quick ratio of 1.18, a current ratio of 4.36 and a debt-to-equity ratio of 1.20.

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.