Caledonia Mining (NYSEAMERICAN:CMCL) Shares Down 1.6% – Here’s Why

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s share price dropped 1.6% during trading on Wednesday . The company traded as low as $29.09 and last traded at $29.30. Approximately 142,948 shares were traded during trading, a decline of 52% from the average daily volume of 299,803 shares. The stock had previously closed at $29.79.

Caledonia Mining Trading Down 4.5%

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.20 and a current ratio of 1.78. The company has a market capitalization of $499.34 million, a price-to-earnings ratio of 10.07 and a beta of 0.48. The firm has a fifty day moving average price of $29.23 and a 200-day moving average price of $29.44.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CMCL. Marshall Wace LLP raised its stake in Caledonia Mining by 287.0% during the second quarter. Marshall Wace LLP now owns 164,533 shares of the company’s stock worth $3,179,000 after acquiring an additional 122,022 shares in the last quarter. U S Global Investors Inc. grew its holdings in shares of Caledonia Mining by 115.7% during the 4th quarter. U S Global Investors Inc. now owns 217,334 shares of the company’s stock valued at $5,688,000 after purchasing an additional 116,580 shares during the last quarter. NFJ Investment Group LLC acquired a new position in Caledonia Mining during the 4th quarter worth approximately $2,954,000. Massachusetts Financial Services Co. MA bought a new position in Caledonia Mining in the 4th quarter valued at approximately $2,615,000. Finally, Tudor Investment Corp ET AL acquired a new stake in Caledonia Mining in the fourth quarter valued at approximately $2,507,000. 31.78% of the stock is owned by institutional investors.

About Caledonia Mining

Caledonia Mining Corporation PLC is a UK‐domiciled gold producer listed on the NYSE American under the ticker CMCL and on the London AIM market. The company’s flagship asset is the Blanket gold mine, located near Gwanda in southwestern Zimbabwe. Blanket is a conventional underground and surface gold operation that includes a carbon‐in‐leach processing plant and tailings retreatment facilities, providing a structurally diverse resource base and established production infrastructure.

Caledonia acquired the Blanket mine in 2004, adding to its long operating history that traces back to the early 20th century.