Collective Mining (TSE:CNL) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Collective Mining Ltd. (TSE:CNL) shares surpassed their 200-day moving average, peaking at C$12.84 before settling at C$12.74 during recent trading.
• The company currently has a market cap of C$699.91 million, a price-to-earnings ratio of -25.54, and a debt-to-equity ratio of 1.20.
• Collective Mining focuses on exploring mineral projects in South America, aiming to replicate past successes of its founding team, which previously sold Continental Gold Inc for around $2 billion.

Collective Mining Ltd. (TSE:CNL - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.03 and traded as high as C$12.84. Collective Mining shares last traded at C$12.74, with a volume of 134,258 shares changing hands.

Collective Mining Trading Up 1.4%

The company has a current ratio of 4.36, a quick ratio of 1.18 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average price of C$14.17 and a 200-day moving average price of C$12.15. The firm has a market cap of C$699.91 million, a price-to-earnings ratio of -25.54 and a beta of 0.87.

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.