Caledonia Mining (NYSEAMERICAN:CMCL) Shares Up 0.5% – Here’s What Happened

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s share price shot up 0.5% on Monday. The stock traded as high as $21.59 and last traded at $21.37. Approximately 136,738 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 215,825 shares. The stock had previously closed at $21.26.

Caledonia Mining Trading Down 0.2%

The company has a current ratio of 5.73, a quick ratio of 5.03 and a debt-to-equity ratio of 0.34. The stock’s fifty day moving average price is $24.24 and its two-hundred day moving average price is $24.03. The stock has a market capitalization of $420.38 million, a P/E ratio of 6.24 and a beta of 0.75.

Caledonia Mining (NYSEAMERICAN:CMCL) last announced its quarterly earnings results on Monday, August 10th. The company reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.82. Caledonia Mining had a return on equity of 23.29% and a net margin of 23.87%. The company had revenue of $75.91 million for the quarter, compared to the consensus estimate of $82.00 million.

Caledonia Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 4th. Investors of record on Friday, August 21st were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 21st. This represents a $0.56 annualized dividend and a dividend yield of 2.6%. Caledonia Mining’s payout ratio is currently 116.67%.

Insider Transactions at Caledonia Mining

In other news, Director July Ndlovu acquired 21,400 shares of the stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $23.03 per share, with a total value of $492,842.00. Following the completion of the transaction, the director owned 250,489 shares of the company’s stock, valued at $5,768,761.67. This represents a 9.34% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.68% of the company’s stock.

Institutional Investors Weigh In On Caledonia Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its holdings in Caledonia Mining by 2,936.8% in the third quarter. Sterling Capital Management LLC now owns 10,325 shares of the company’s stock worth $243,000 after buying an additional 9,985 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Caledonia Mining during the second quarter valued at $498,000. Globeflex Capital L P bought a new stake in Caledonia Mining in the 2nd quarter worth about $3,121,000. Montchanin Asset Management LLC purchased a new position in Caledonia Mining in the 1st quarter worth about $335,000. Finally, Bank of America Corp DE lifted its stake in Caledonia Mining by 16.7% during the 1st quarter. Bank of America Corp DE now owns 71,407 shares of the company’s stock valued at $1,613,000 after acquiring an additional 10,232 shares during the period. Hedge funds and other institutional investors own 31.78% of the company’s stock.

Caledonia Mining Company Profile

Caledonia Mining Corporation Plc is a gold exploration, development and mining company focused primarily on Zimbabwe. Its principal operating asset is the Blanket Gold Mine, an underground operation near Gwanda in the Matabeleland South region. The company produces gold doré and sells its production through established refining and marketing channels.

Caledonia also owns and develops additional gold assets in Zimbabwe, including the Bilboes and Motapa properties. These projects are intended to support future production growth and provide opportunities for further exploration and resource development.