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

Collective Mining Ltd. (TSE:CNL)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.46 and traded as high as C$25.00. Collective Mining shares last traded at C$24.96, with a volume of 313,271 shares traded.

Wall Street Analysts Forecast Growth

Separately, National Bankshares set a C$22.75 target price on Collective Mining and gave the company an “outperform” rating in a research report on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$17.38.

Collective Mining Stock Up 10.5%

The company has a debt-to-equity ratio of 1.20, a current ratio of 4.36 and a quick ratio of 1.18. The stock has a market capitalization of C$2.30 billion, a P/E ratio of -48.94 and a beta of 0.55. The firm has a 50-day simple moving average of C$19.83 and a 200 day simple moving average of C$17.46.

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. Management, insiders and close family and friends own approximately 40% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.