Collective Mining (TSE:CNL) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Collective Mining Ltd. (TSE:CNL)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$4.70 and traded as high as C$7.25. Collective Mining shares last traded at C$7.24, with a volume of 29,600 shares traded.

Wall Street Analysts Forecast Growth

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

Collective Mining Price Performance

The company has a 50-day simple moving average of C$5.85 and a 200-day simple moving average of C$4.70. The stock has a market cap of C$494.13 million, a PE ratio of -15.40 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.

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.