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

Shares of Collective Mining Ltd. (TSE:CNL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$6.95 and traded as high as C$13.69. Collective Mining shares last traded at C$13.24, with a volume of 102,242 shares changing hands.

Analysts Set New Price Targets

Separately, Scotiabank boosted their price target on shares of Collective Mining from C$9.50 to C$12.00 and gave the stock an “outperform” rating in a research note on Monday, March 17th.

Collective Mining Stock Up 8.0 %

The firm has a market capitalization of C$785.61 million, a PE ratio of -28.66 and a beta of 0.87. The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20. The stock has a 50 day simple moving average of C$10.81 and a 200 day simple moving average of C$7.01.

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.