Caledonia Mining (NYSEAMERICAN:CMCL) Shares Down 8.5% – Should You Sell?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s share price was down 8.5% during mid-day trading on Friday . The company traded as low as $33.59 and last traded at $34.09. Approximately 241,526 shares traded hands during mid-day trading, an increase of 55% from the average daily volume of 155,843 shares. The stock had previously closed at $37.27.

Analyst Upgrades and Downgrades

Separately, Maxim Group boosted their target price on shares of Caledonia Mining from $21.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Caledonia Mining currently has a consensus rating of “Buy” and an average price target of $28.00.

Caledonia Mining Trading Down 8.5%

The company has a quick ratio of 1.10, a current ratio of 1.65 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $30.65 and its 200-day simple moving average is $22.00. The company has a market capitalization of $655.21 million, a PE ratio of 17.66 and a beta of 0.39.

Caledonia Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.6%. The ex-dividend date was Friday, August 22nd. Caledonia Mining’s payout ratio is currently 116.67%.

Institutional Investors Weigh In On Caledonia Mining

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in Caledonia Mining by 6,486.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock worth $37,000 after buying an additional 1,881 shares during the period. GAMMA Investing LLC boosted its stake in shares of Caledonia Mining by 2,778.8% in the first quarter. GAMMA Investing LLC now owns 3,397 shares of the company’s stock valued at $42,000 after purchasing an additional 3,279 shares during the period. Legal & General Group Plc boosted its stake in shares of Caledonia Mining by 166.9% in the second quarter. Legal & General Group Plc now owns 3,617 shares of the company’s stock valued at $70,000 after purchasing an additional 2,262 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Caledonia Mining by 56.2% in the first quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company’s stock valued at $75,000 after purchasing an additional 2,160 shares during the period. Finally, Osaic Holdings Inc. boosted its stake in shares of Caledonia Mining by 81.8% in the second quarter. Osaic Holdings Inc. now owns 4,192 shares of the company’s stock valued at $81,000 after purchasing an additional 1,886 shares during the period. 31.78% of the stock is currently owned by hedge funds and other institutional investors.

Caledonia Mining Company Profile

Caledonia Mining Corporation Plc primarily operates a gold mine. It also engages in the exploration and development of mineral properties for precious metals. The company holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe. It also owns 100% interests in the Maligreen project, a brownfield gold exploration project located in the Gweru mining district in the Zimbabwe Midlands; the Bilboes, a gold deposit located to the north of Bulawayo, Zimbabwe; and the Motapa, a gold exploration property located in Southern Zimbabwe.