Collective Mining (TSE:CNL) Hits New 12-Month High – Still a Buy?

Collective Mining Ltd. (TSE:CNL) reached a new 52-week high on Thursday . The stock traded as high as C$6.15 and last traded at C$6.10, with a volume of 33850 shares trading hands. The stock had previously closed at C$5.97.

Analysts Set New Price Targets

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

Collective Mining Stock Up 1.7 %

The stock has a market cap of C$414.28 million, a P/E ratio of -12.91 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 7.26 and a quick ratio of 1.18. The stock’s fifty day simple moving average is C$5.25 and its 200-day simple moving average is C$4.40.

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.