Collective Mining (TSE:CNL) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Collective Mining Ltd. (TSE:CNL) shares have risen above their 200-day moving average, reaching a high of C$19.04 before last trading at C$18.54.
• The company has a market capitalization of C$1.57 billion and significant liquidity, indicated by a current ratio of 4.36.
• Founded by the team behind the successful sale of Continental Gold Inc., Collective Mining aims to leverage its expertise to make new mineral discoveries in South America.

Collective Mining Ltd. (TSE:CNL - )'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$14.43 and traded as high as C$19.04. Collective Mining shares last traded at C$18.54, with a volume of 121,353 shares.

Collective Mining Price Performance

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 cap of C$1.57 billion, a price-to-earnings ratio of -39.45 and a beta of 0.65. The stock has a fifty day moving average of C$15.59 and a 200 day moving average of C$14.43.

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.

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