Caledonia Mining Corporation PLC (CMCL) to Distribute Quarterly Dividend of $0.14 on September 4th

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Friday, August 21st will be given a dividend of 0.14 per share on Friday, September 4th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, August 21st.

Caledonia Mining has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings.

Caledonia Mining Stock Up 0.8%

Shares of CMCL stock opened at $22.91 on Wednesday. Caledonia Mining has a fifty-two week low of $15.85 and a fifty-two week high of $38.75. The firm has a market capitalization of $442.39 million, a PE ratio of 6.56 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.08 and a current ratio of 4.66. The stock’s 50-day simple moving average is $19.42 and its 200-day simple moving average is $23.61.

Caledonia Mining (NYSEAMERICAN:CMCL) last released its earnings results on Monday, May 11th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.13. Caledonia Mining had a return on equity of 24.04% and a net margin of 23.87%.The firm had revenue of $66.43 million during the quarter, compared to the consensus estimate of $79.20 million.

Insiders Place Their Bets

In related news, Director July Ndlovu sold 20,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $17.19, for a total transaction of $343,800.00. Following the completion of the transaction, the director owned 229,089 shares of the company’s stock, valued at $3,938,039.91. This trade represents a 8.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Victor Gapare bought 11,750 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $18.70 per share, with a total value of $219,725.00. Following the completion of the transaction, the director directly owned 2,455,122 shares of the company’s stock, valued at $45,910,781.40. This trade represents a 0.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Caledonia Mining

A number of institutional investors have recently modified their holdings of CMCL. Empowered Funds LLC boosted its stake in shares of 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 buying an additional 6,770 shares during the last quarter. Geode Capital Management LLC boosted its position in Caledonia Mining by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 205,326 shares of the company’s stock worth $3,967,000 after purchasing an additional 2,463 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Caledonia Mining by 10.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 9,559 shares of the company’s stock worth $185,000 after purchasing an additional 902 shares during the period. Legal & General Group Plc increased its holdings in shares of Caledonia Mining by 166.9% during the 2nd 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 in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Caledonia Mining by 32.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,933 shares of the company’s stock valued at $153,000 after purchasing an additional 1,928 shares during the period. Hedge funds and other institutional investors own 31.78% of the company’s stock.

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.