Caledonia Mining (NYSEAMERICAN:CMCL) Announces Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Key Points

• Caledonia Mining beat earnings expectations, reporting quarterly EPS of $0.68 versus the $0.54 consensus estimate. Revenue totaled $75.91 million, below analysts’ $82.00 million forecast.
• The stock opened at $21.75, with a market capitalization of approximately $420 million and a P/E ratio of 6.82. The company reported a 23.90% return on equity and a 23.59% net margin.
• Institutional investors increased their positions, including Marshall Wace, which raised its stake by 287%, while insiders own 3.68% of the company; one director bought shares and another sold shares.

Caledonia Mining (NYSEAMERICAN:CMCL - Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.14, FiscalAI reports. The business had revenue of $75.91 million for the quarter, compared to the consensus estimate of $82.00 million. Caledonia Mining had a return on equity of 23.90% and a net margin of 23.59%.

Caledonia Mining Stock Performance

Shares of NYSEAMERICAN CMCL opened at $21.75 on Monday. Caledonia Mining has a 1-year low of $15.85 and a 1-year high of $38.75. The business has a fifty day moving average price of $19.38 and a 200 day moving average price of $23.69. 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 stock has a market capitalization of $419.99 million, a P/E ratio of 6.82 and a beta of 0.67.

Insiders Place Their Bets

In other news, Director Victor Gapare purchased 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, for a total transaction of $219,725.00. Following the completion of the transaction, the director owned 2,455,122 shares in the company, valued at $45,910,781.40. This represents a 0.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director July Ndlovu sold 20,000 shares of the company's stock in a transaction on Monday, May 18th. The stock was 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 of the company's stock, valued at $3,938,039.91. This represents a 8.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.68% of the company's stock.

Hedge Funds Weigh In On Caledonia Mining

Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Caledonia Mining by 7.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 458,082 shares of the company's stock worth $11,989,000 after purchasing an additional 31,169 shares during the period. Geode Capital Management LLC boosted its position in Caledonia Mining by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 205,326 shares of the company's stock worth $3,967,000 after acquiring an additional 2,463 shares during the period. Marshall Wace LLP raised its stake in shares of Caledonia Mining by 287.0% in the 2nd quarter. Marshall Wace LLP now owns 164,533 shares of the company's stock worth $3,179,000 after buying an additional 122,022 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Caledonia Mining by 6.6% in the 3rd quarter. Bridgeway Capital Management LLC now owns 156,450 shares of the company's stock worth $5,665,000 after acquiring an additional 9,712 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Caledonia Mining by 28.3% in the third quarter. Vanguard Group Inc. now owns 131,889 shares of the company's stock worth $4,776,000 after purchasing an additional 29,114 shares in the last quarter. Institutional investors and hedge funds 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.

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