Caledonia Mining (NYSEAMERICAN:CMCL) Shares Climb 0.5% – Time to Buy?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s stock price was up 0.5% on Monday. The company traded as high as $21.59 and last traded at $21.37. Approximately 136,738 shares were traded 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 company has a debt-to-equity ratio of 0.34, a quick ratio of 5.03 and a current ratio of 5.73. The firm’s fifty day simple moving average is $24.28 and its 200 day simple moving average is $24.06. The stock has a market capitalization of $412.65 million, a price-to-earnings ratio of 6.12 and a beta of 0.75.

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

Caledonia Mining Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.6%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

Insider Activity

In other news, Director July Ndlovu bought 21,400 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $23.03 per share, with a total value of $492,842.00. Following the transaction, the director owned 250,489 shares in the company, valued at $5,768,761.67. This represents a 9.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.68% of the company’s stock.

Institutional Investors Weigh In On Caledonia Mining

Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of Caledonia Mining by 18.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 544,657 shares of the company’s stock worth $12,303,000 after acquiring an additional 86,575 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Caledonia Mining by 112.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 193,812 shares of the company’s stock valued at $4,378,000 after purchasing an additional 102,518 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Caledonia Mining in the first quarter worth $4,001,000. Globeflex Capital L P bought a new stake in shares of Caledonia Mining in the second quarter worth $3,121,000. Finally, Empowered Funds LLC boosted its holdings in Caledonia Mining by 15.4% during the first quarter. Empowered Funds LLC now owns 133,178 shares of the company’s stock worth $3,008,000 after purchasing an additional 17,798 shares during the last quarter. Institutional investors own 31.78% of the company’s stock.

Caledonia Mining Company Profile

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.