Collective Mining (TSE:CNL) Stock Passes Above 200 Day Moving Average – What’s Next?

Collective Mining Ltd. (TSE:CNL) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$4.05 and traded as high as C$4.54. Collective Mining shares last traded at C$4.47, with a volume of 33,700 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets set a C$8.25 target price on Collective Mining and gave the company an “outperform” rating in a research note on Wednesday, June 19th. Canaccord Genuity Group boosted their target price on shares of Collective Mining from C$8.25 to C$8.75 in a research report on Tuesday, July 23rd.

Collective Mining Trading Down 0.9 %

The business’s fifty day moving average is C$4.22 and its two-hundred day moving average is C$4.06. The company has a quick ratio of 1.18, a current ratio of 7.26 and a debt-to-equity ratio of 0.95. The firm has a market cap of C$300.98 million, a price-to-earnings ratio of -9.59 and a beta of 0.87.

Insider Transactions at Collective Mining

In related news, insider Pasquale Dicapo acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was acquired at an average cost of C$3.25 per share, with a total value of C$325,000.00. 34.19% of the stock is currently owned by corporate insiders.

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.