Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) Sees Significant Growth in Short Interest

Key Points

• Caledonia Mining Corporation experienced a significant increase in short interest of 74.2% in September, totaling 391,300 shares compared to 224,600 shares in August.
• The company declared a quarterly dividend of $0.14 per share, yielding 1.5%, despite a high dividend payout ratio of 116.67%.
• Maxim Group upgraded Caledonia Mining's target price from $21.00 to $28.00 and maintained a "buy" rating, reflecting positive analyst sentiment.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 391,300 shares, an increase of 74.2% from the August 31st total of 224,600 shares. Based on an average trading volume of 218,600 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 218,600 shares, the days-to-cover ratio is currently 1.8 days.

Caledonia Mining Stock Up 1.7%

Shares of CMCL opened at $36.90 on Monday. Caledonia Mining has a 12 month low of $8.81 and a 12 month high of $38.39. The firm's 50 day moving average is $27.64 and its 200-day moving average is $20.35. The stock has a market capitalization of $709.22 million, a PE ratio of 19.12 and a beta of 0.39. The company has a current ratio of 1.65, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05.

Caledonia Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.5%. Caledonia Mining's dividend payout ratio (DPR) is currently 116.67%.

Institutional Trading of Caledonia Mining

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of Caledonia Mining by 6,486.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company's stock worth $37,000 after acquiring an additional 1,881 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Caledonia Mining by 2,778.8% during the 1st quarter. GAMMA Investing LLC now owns 3,397 shares of the company's stock worth $42,000 after acquiring an additional 3,279 shares in the last quarter. Legal & General Group Plc boosted its position 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 worth $70,000 after acquiring an additional 2,262 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Caledonia Mining by 56.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company's stock worth $75,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Caledonia Mining by 81.8% during the 2nd quarter. Osaic Holdings Inc. now owns 4,192 shares of the company's stock worth $81,000 after acquiring an additional 1,886 shares in the last quarter. Institutional investors and hedge funds own 31.78% of the company's stock.

Analyst Ratings Changes

Separately, Maxim Group raised their target price on shares of Caledonia Mining from $21.00 to $28.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $28.00.

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.

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