Caledonia Mining (NYSEAMERICAN:CMCL) Shares Down 2.1% – Should You Sell?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s stock price traded down 2.1% on Tuesday . The company traded as low as $18.62 and last traded at $18.91. 243,159 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 257,109 shares. The stock had previously closed at $19.32.

Caledonia Mining Trading Up 3.9%

The firm has a market capitalization of $366.89 million, a PE ratio of 5.96 and a beta of 0.67. The firm’s 50-day simple moving average is $21.52 and its 200-day simple moving average is $25.16. The company has a quick ratio of 4.08, a current ratio of 4.66 and a debt-to-equity ratio of 0.35.

Caledonia Mining (NYSEAMERICAN:CMCL) last posted its quarterly earnings results on Monday, May 11th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.13. Caledonia Mining had a return on equity of 23.90% and a net margin of 23.59%.The business had revenue of $66.43 million for the quarter, compared to analyst estimates of $79.20 million.

Caledonia Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $0.56 annualized dividend and a dividend yield of 2.9%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

Insider Buying and Selling

In related news, Director July Ndlovu sold 20,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $17.19, for a total transaction of $343,800.00. Following the transaction, the director owned 229,089 shares in the company, valued at $3,938,039.91. The trade was a 8.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Victor Gapare bought 11,750 shares of Caledonia Mining stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $18.70 per share, for a total transaction of $219,725.00. Following the acquisition, the director directly owned 2,455,122 shares in the company, valued at approximately $45,910,781.40. This trade represents a 0.48% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caledonia Mining

Several hedge funds have recently made changes to their positions in CMCL. Empowered Funds LLC grew its stake in Caledonia Mining by 7.6% in the first quarter. Empowered Funds LLC now owns 95,454 shares of the company’s stock worth $1,192,000 after purchasing an additional 6,770 shares during the period. Geode Capital Management LLC lifted its position in Caledonia Mining by 1.2% during the second quarter. Geode Capital Management LLC now owns 205,326 shares of the company’s stock valued at $3,967,000 after buying an additional 2,463 shares during the period. JPMorgan Chase & Co. lifted its position in Caledonia Mining by 10.4% during the second quarter. JPMorgan Chase & Co. now owns 9,559 shares of the company’s stock valued at $185,000 after buying an additional 902 shares during the period. Legal & General Group Plc lifted its position in Caledonia Mining by 166.9% during the second quarter. Legal & General Group Plc now owns 3,617 shares of the company’s stock valued at $70,000 after buying an additional 2,262 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Caledonia Mining by 32.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,933 shares of the company’s stock valued at $153,000 after buying an additional 1,928 shares in the last quarter. 31.78% of the stock is currently owned by institutional investors.

Caledonia Mining Company Profile

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.