Caledonia Mining (NYSEAMERICAN:CMCL) Hits New 52-Week High - Here's Why

Key Points

• Caledonia Mining Corporation PLC recently reached a new 52-week high, trading at $38.75 before settling at $38.31, with significant trading volume of 116,250 shares.
• The company has received a buy rating from analysts, with Maxim Group raising its price target from $21.00 to $28.00.
• Caledonia Mining declared a quarterly dividend of $0.14, representing an annual yield of 1.5%, despite having a high payout ratio of 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $38.75 and last traded at $38.31, with a volume of 116250 shares. The stock had previously closed at $37.72.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lifted their price objective on shares of Caledonia Mining from $21.00 to $28.00 and gave the company 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.com, the stock presently has a consensus rating of "Buy" and an average target price of $28.00.

Caledonia Mining Trading Down 1.2%

The firm's 50-day moving average price is $30.15 and its 200-day moving average price is $21.61. The company has a quick ratio of 1.10, a current ratio of 1.65 and a debt-to-equity ratio of 0.05. The company has a market cap of $716.33 million, a P/E ratio of 19.31 and a beta of 0.39.

Caledonia Mining Dividend Announcement

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

Institutional Trading of Caledonia Mining

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its stake in Caledonia Mining by 6,486.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company's stock valued at $37,000 after acquiring an additional 1,881 shares in the last quarter. GAMMA Investing LLC grew its stake in Caledonia Mining by 2,778.8% during the first quarter. GAMMA Investing LLC now owns 3,397 shares of the company's stock valued at $42,000 after acquiring an additional 3,279 shares in the last quarter. Legal & General Group Plc grew its stake in Caledonia Mining by 166.9% during the second quarter. Legal & General Group Plc now owns 3,617 shares of the company's stock valued at $70,000 after acquiring an additional 2,262 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Caledonia Mining by 56.2% during the first quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company's stock valued at $75,000 after acquiring an additional 2,160 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in Caledonia Mining by 81.8% during the second quarter. Osaic Holdings Inc. now owns 4,192 shares of the company's stock valued at $81,000 after acquiring an additional 1,886 shares in the last quarter. Institutional investors own 31.78% of the company's stock.

About Caledonia Mining

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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