Caledonia Mining (NYSEAMERICAN:CMCL) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $19.70 and traded as low as $18.09. Caledonia Mining shares last traded at $18.39, with a volume of 175,714 shares trading hands.

Caledonia Mining Trading Down 2.5%

The company has a market capitalization of $355.11 million, a PE ratio of 5.76 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.66 and a quick ratio of 4.08. The company’s fifty day moving average is $19.70 and its 200-day moving average is $24.07.

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

Caledonia Mining Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, May 22nd. Caledonia Mining’s dividend payout ratio is 116.67%.

Insider Transactions at Caledonia Mining

In related news, Director Victor Gapare acquired 11,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought 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 in the company, valued at $45,910,781.40. This trade represents a 0.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director July Ndlovu sold 20,000 shares of Caledonia Mining stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $17.19, for a total value of $343,800.00. Following the completion of the transaction, the director owned 229,089 shares in the company, valued at $3,938,039.91. This trade represents a 8.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CMCL. U S Global Investors Inc. boosted its stake in Caledonia Mining by 115.7% in the fourth quarter. U S Global Investors Inc. now owns 217,334 shares of the company’s stock valued at $5,688,000 after acquiring an additional 116,580 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Caledonia Mining during the fourth quarter worth $2,615,000. Globeflex Capital L P increased its position in shares of Caledonia Mining by 59.2% during the fourth quarter. Globeflex Capital L P now owns 163,383 shares of the company’s stock worth $4,276,000 after purchasing an additional 60,747 shares in the last quarter. Cvfg LLC purchased a new stake in shares of Caledonia Mining during the 1st quarter valued at $776,000. Finally, UBS Group AG lifted its holdings in shares of Caledonia Mining by 103.2% during the 4th quarter. UBS Group AG now owns 109,297 shares of the company’s stock valued at $2,860,000 after purchasing an additional 55,510 shares during the last quarter. Hedge funds and other institutional investors own 31.78% of the company’s stock.

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.