Want to see TSE:CNL full AI Analyst Report?
Top Page
Collective Mining
(TSX:CNL)
Select Model
Select Model
Rating:47Neutral
Price Target:
C$17.00
▼(-21.84% Downside)
Action:Reiterated
Date:09/10/26
The score is held down primarily by weak financial performance—no revenue, widening losses, and substantial negative free cash flow that increases reliance on external financing. Technicals are mixed/neutral and do not materially improve conviction, while valuation inputs are constrained by a negative P/E and no dividend yield.
Positive Factors
Balance-sheet flexibility
The sizeable equity base relative to debt gives Collective Mining a financial cushion while it advances exploration projects. Modest leverage can preserve flexibility for staged spending, project work and potential financing decisions over the next several quarters.
Negative Factors
No operating revenue
The absence of revenue confirms that Collective Mining remains pre-production and cannot currently fund operations through mineral sales. Its financial progress therefore depends on exploration success and access to capital, making the business model less self-sustaining over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet flexibility
The sizeable equity base relative to debt gives Collective Mining a financial cushion while it advances exploration projects. Modest leverage can preserve flexibility for staged spending, project work and potential financing decisions over the next several quarters.
Read all positive factors
Collective Mining (CNL) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$1.49B
Dividend YieldN/A
Average Volume (3M)178.53K
Price to Earnings (P/E)―
Beta (1Y)1.66
Revenue GrowthN/A
EPS Growth-12.73%
CountryCA
Employees154
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.64
Shares Outstanding86,452,110
10 Day Avg. Volume104,874
30 Day Avg. Volume178,533
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)8.52
Price to Sales (P/S)0.00
P/FCF Ratio-29.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$33.88Price Target Upside55.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.54
Revenue Forecast (FY)N/A
Collective Mining Business Overview & Revenue Model
Company Description
Collective Mining Ltd. is a company dedicated to identifying and advancing promising mineral resources, with a primary focus on gold prospects throughout South America. Its exploration activities target deposits containing gold, silver, and copper...
How the Company Makes Money
Collective Mining is an exploration-stage company, and public, consistently available information indicating recurring operating revenue from the sale of minerals or production is null. In practice for this business model, the company’s funding an...
Collective Mining Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
54
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -563.70K | -97.50K | -44.38K | -22.43K | -8.81K | -6.61K |
| EBITDA | -54.17M | -48.35M | -26.56M | -18.87M | -17.15M | -10.24M |
| Net Income | -56.66M | -49.86M | -26.95M | -19.13M | -17.27M | -17.31M |
Balance Sheet | ||||||
| Total Assets | 168.53M | 158.05M | 42.56M | 16.97M | 10.14M | 17.27M |
| Cash, Cash Equivalents and Short-Term Investments | 93.57M | 129.65M | 38.93M | 14.17M | 8.50M | 16.31M |
| Total Debt | 14.65M | 1.86M | 155.53K | 119.70K | 76.61K | 121.65K |
| Total Liabilities | 52.65M | 12.92M | 5.55M | 4.25M | 3.20M | 1.69M |
| Stockholders Equity | 115.88M | 145.13M | 37.01M | 12.72M | 6.94M | 15.58M |
Cash Flow | ||||||
| Free Cash Flow | -63.25M | -41.83M | -22.81M | -17.29M | -14.54M | -8.10M |
| Operating Cash Flow | -46.73M | -35.88M | -22.57M | -16.94M | -14.22M | -7.87M |
| Investing Cash Flow | -25.23M | -14.66M | -238.93K | -353.51K | -319.01K | -234.03K |
| Financing Cash Flow | 96.15M | 140.73M | 49.30M | 22.26M | 7.26M | 23.07M |
Collective Mining Technical Analysis
Negative
21.75
Price Trends
19.55
Negative
19.73
Negative
21.55
Negative
Market Momentum
-0.80
Positive
38.12
Neutral
8.88
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CNL, the sentiment is Negative. The current price of 21.75 is above the 20-day moving average (MA) of 18.79, above the 50-day MA of 19.55, and above the 200-day MA of 21.55, indicating a bearish trend. The MACD of -0.80 indicates Positive momentum. The RSI at 38.12 is Neutral, neither overbought nor oversold. The STOCH value of 8.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:CNL.
Collective Mining Risk Analysis
Collective Mining disclosed 39 risk factors in its most recent earnings report. Collective Mining reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Collective Mining Peers Comparison
UnderperformOutperform
Sector (61)
TSE:CNL
Collective Mining
17.20
-1.35
-7.28%
TSE:RIO
Rio2
3.16
1.13
55.67%
TSE:IAU
i-80 Gold Corp
2.31
0.94
68.61%
Collective Mining Corporate Events
Business Operations and Strategy
Collective Mining Unveils High-Grade Tungsten-Gold Discovery at Apollo in Colombia
Positive
Sep 24, 2026
Collective Mining has reported a new high-grade tungsten and gold discovery in schist rock south of and outside the Apollo breccia body at its Guayabales Project in Colombia. The key intercept from drill hole APC150-D4, located roughly 927 meters ...
Business Operations and Strategy
Collective Mining to Spotlight Apollo Deposit at Mining Forum Americas 2026
Positive
Sep 23, 2026
Collective Mining will showcase its flagship Guayabales project and Apollo deposit at Mining Forum Americas 2026 in Colorado Springs, where Executive Chairman Ari Sussman is scheduled to deliver a livestreamed presentation to investors and industr...
Business Operations and Strategy
Collective Mining Advances Apollo Flowsheet with Strong Copper and Tungsten Recoveries
Positive
Sep 21, 2026
Collective Mining is refining an integrated dual-route processing flowsheet for the Apollo deposit at its Guayabales Project in Colombia, aiming to support a planned 2027 licensing submission. The strategy separates the deposit into higher-grade c...
Business Operations and Strategy
Collective Mining Unveils Maiden Resource at Apollo Deposit in Colombia
Positive
Sep 8, 2026
Collective Mining Ltd. has reported a maiden mineral resource for its Apollo deposit at the Guayabales Project in Caldas, Colombia, confirming both sizable open pit and underground potential in gold-equivalent ounces. The initial estimate outlines...
Business Operations and Strategy
Collective Mining Sets Maiden Apollo Resource and Outlines Aggressive Exploration Plans
Positive
Sep 8, 2026
Collective Mining Ltd. said it will publish its maiden mineral resource estimate for the Apollo deposit at the Guayabales project in Caldas, Colombia after markets close on September 8, 2026. The announcement marks a key milestone for the company&...
Business Operations and Strategy
Collective Mining Advances Orion and Victory Targets to Drilling at Guayabales Project
Positive
Sep 3, 2026
Collective Mining plans to start drilling this week at its newly defined Orion target at the Guayabales Project in Colombia, after surface work outlined a 350-meter by 300-meter mineralized zone with strong gold, silver, copper and molybdenum geoc...
Business Operations and Strategy
Collective Mining Extends High-Grade Apollo Breccia with New Northern Discovery
Positive
Sep 1, 2026
Collective Mining reported new drill results from its 2026 program at the Guayabales Project in Colombia, highlighting a significant northern extension of the Apollo breccia body. Two deep directional drill holes from Pad 37 intersected high-grade...
Business Operations and Strategy
Collective Mining Posts Strong Metallurgical Results at Apollo and Accelerates Resource Timeline
Positive
Aug 25, 2026
Collective Mining reported robust metallurgical results from a master composite representing the top 1,000 meters of the Apollo system at its Guayabales Project in Colombia, with locked-cycle tests showing recoveries of 95% gold, 92% silver and 85...
Business Operations and Strategy
Collective Mining Advances Guayabales Adit Toward 2026 Construction
Positive
Aug 18, 2026
Collective Mining has completed a 1.8-kilometer access road linking the Pan American Highway to the planned exploration adit portal at its Guayabales Project in Colombia. With permits secured, portal platform and box-cut work will begin immediatel...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.