Caledonia Mining (NYSEAMERICAN:CMCL) Sets New 52-Week High - Should You Buy?

Key Points

• Caledonia Mining Corporation has reached a new 52-week high, trading as high as $33.72, with a recent closing price of $33.30, showing significant performance improvement.
• The company received a price target increase from Maxim Group, raising its price objective from $21.00 to $28.00, and maintaining a "buy" rating for the stock.
• Caledonia Mining announced a quarterly dividend of $0.14 per share, reflecting a 1.7% yield and a payout ratio of 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $33.72 and last traded at $33.30, with a volume of 160509 shares trading hands. The stock had previously closed at $31.82.

Analyst Upgrades and Downgrades

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

Caledonia Mining Stock Up 2.6%

The company has a 50 day moving average price of $25.08 and a two-hundred day moving average price of $18.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.65 and a quick ratio of 1.10. The stock has a market cap of $657.13 million, a PE ratio of 13.71 and a beta of 0.35.

Caledonia Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued 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 1.6%. Caledonia Mining's payout ratio is presently 116.67%.

Institutional Trading of Caledonia Mining

Large investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of Caledonia Mining by 6,486.2% in the second 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 during the period. GAMMA Investing LLC grew its holdings 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 purchasing an additional 3,279 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Caledonia Mining during the fourth quarter valued at about $61,000. Legal & General Group Plc grew its holdings 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 purchasing an additional 2,262 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings 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 purchasing an additional 2,160 shares during the period. Institutional investors own 31.78% of the company's stock.

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.