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

Shares of Collective Mining Ltd. (TSE:CNL) hit a new 52-week high on Friday . The stock traded as high as C$5.92 and last traded at C$5.89, with a volume of 24985 shares. The stock had previously closed at C$5.64.

Analyst Upgrades and Downgrades

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

Collective Mining Price Performance

The firm has a 50-day moving average of C$5.06 and a 200-day moving average of C$4.33. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 7.26. The firm has a market capitalization of C$405.41 million, a P/E ratio of -12.64 and a beta of 0.87.

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.