Caledonia Mining (NYSEAMERICAN:CMCL) Stock Jumps 0.5% – Still a Buy?

Shares of Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL – Get Free Report) were up 0.5% during mid-day trading on Monday. The stock traded as high as $21.59 and last traded at $21.37. 136,738 shares changed hands 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 Stock Up 0.5%

The firm’s 50-day simple moving average is $24.28 and its 200 day simple moving average is $24.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 5.73. The stock has a market capitalization of $412.65 million, a P/E ratio of 6.12 and a beta of 0.75.

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

Caledonia Mining Announces Dividend

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

Insider Buying and Selling

In related news, Director July Ndlovu purchased 21,400 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $23.03 per share, for a total transaction of $492,842.00. Following the completion of the purchase, the director directly owned 250,489 shares in the company, valued at $5,768,761.67. This trade represents a 9.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its holdings in shares of Caledonia Mining by 2,936.8% in the 3rd quarter. Sterling Capital Management LLC now owns 10,325 shares of the company’s stock valued at $243,000 after buying an additional 9,985 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Caledonia Mining during the second quarter worth $498,000. Globeflex Capital L P acquired a new position in Caledonia Mining during the second quarter worth $3,121,000. Montchanin Asset Management LLC acquired a new position in Caledonia Mining during the first quarter worth $335,000. Finally, Bank of America Corp DE raised its position in Caledonia Mining by 16.7% during the first quarter. Bank of America Corp DE now owns 71,407 shares of the company’s stock worth $1,613,000 after acquiring an additional 10,232 shares in the last quarter. Institutional investors and hedge funds own 31.78% of the company’s stock.

Caledonia Mining Company Profile

(Get Free Report)

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.

Further Reading

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