Collective Mining (TSE:CNL) Trading Up 6.1% – Time to Buy?

Collective Mining Ltd. (TSE:CNL) was up 6.1% during mid-day trading on Tuesday . The stock traded as high as C$5.73 and last traded at C$5.73. Approximately 111,228 shares traded hands during trading, an increase of 113% from the average daily volume of 52,249 shares. The stock had previously closed at C$5.40.

Analysts Set New Price Targets

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

Collective Mining Stock Performance

The stock has a fifty day simple moving average of C$4.95 and a two-hundred day simple moving average of C$4.29. The stock has a market cap of C$397.90 million, a price-to-earnings ratio of -12.26 and a beta of 0.87. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 7.26.

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.