Scotiabank Forecasts Strong Price Appreciation for Collective Mining (TSE:CNL) Stock

Collective Mining (TSE:CNL) had its price objective raised by Scotiabank from C$9.50 to C$12.00 in a research report issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 8.95% from the company’s previous close.

Collective Mining Stock Up 7.7 %

Shares of Collective Mining stock opened at C$13.18 on Monday. 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 stock has a market capitalization of C$724.08 million, a PE ratio of -26.42 and a beta of 0.87. Collective Mining has a 52-week low of C$3.02 and a 52-week high of C$13.35. The company has a 50-day simple moving average of C$8.30 and a two-hundred day simple moving average of C$5.84.

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.