Collective Mining (TSE:CNL) Given a C$8.50 Price Target by Scotiabank Analysts

Collective Mining (TSE:CNL - Get Free Report) has been assigned a C$8.50 price target by Scotiabank in a research report issued on Monday, BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 63.46% from the company's current price.

Separately, Canaccord Genuity Group lifted their target price on shares of Collective Mining from C$8.25 to C$8.75 in a research report on Tuesday, July 23rd.

Collective Mining Price Performance

Shares of CNL stock traded down C$0.09 during mid-day trading on Monday, reaching C$5.20. The stock had a trading volume of 35,550 shares, compared to its average volume of 49,417. The company has a market cap of C$354.90 million, a P/E ratio of -11.21 and a beta of 0.87. The company has a current ratio of 7.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Collective Mining has a 12-month low of C$3.02 and a 12-month high of C$5.50. The business has a 50-day simple moving average of C$4.59 and a 200 day simple moving average of C$4.16.

About Collective Mining

Collective Mining Ltd., an exploration and development company, focuses on identifying and exploring prospective gold projects in South America. The company explores for gold, silver, and copper deposits. It holds 100% interests in the Guayabales project consisting of 26 claims with a total area of 4,780.98 hectares located in the Caldas department of Colombia; and the San Antonio project covering an area of 4,729 hectares located in the department of Caldas, Colombia.