Scotiabank Issues Positive Forecast for Collective Mining (TSE:CNL) Stock Price

Collective Mining (TSE:CNL) had its target price lifted by stock analysts at Scotiabank from C$9.50 to C$12.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential downside of 2.99% from the company’s previous close.

Collective Mining Stock Up 2.6 %

TSE:CNL traded up C$0.31 during mid-day trading on Monday, hitting C$12.37. 151,098 shares of the company’s stock traded hands, compared to its average volume of 134,260. Collective Mining has a twelve month low of C$3.02 and a twelve month high of C$12.50. The company has a fifty day moving average of C$8.04 and a 200 day moving average of C$5.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.18 and a current ratio of 4.36. The company has a market capitalization of C$679.58 million, a P/E ratio of -24.79 and a beta of 0.87.

About Collective Mining

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.