Caledonia Mining (NYSEAMERICAN:CMCL) Hits New 1-Year High - Should You Buy?

Key Points

• Caledonia Mining reached a new 52-week high, trading at $29.58, marking significant growth as it last traded at $29.05.
• Maxim Group has upgraded its price target for the stock from $21.00 to $28.00, giving it a "buy" rating and supporting a consensus rating of "Buy" among analysts.
• The company has a quarterly dividend of $0.14, representing an annual yield of 1.9%, although its dividend payout ratio is notably high at 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.58 and last traded at $29.05, with a volume of 29654 shares. The stock had previously closed at $28.41.

Wall Street Analyst Weigh In

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

Caledonia Mining Stock Performance

The firm has a 50 day moving average of $23.69 and a two-hundred day moving average of $17.57. The stock has a market cap of $636.76 million, a P/E ratio of 17.17 and a beta of 0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.65.

Caledonia Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a dividend of $0.14 per share. The ex-dividend date was Friday, August 22nd. This represents a $0.56 annualized dividend and a yield of 1.7%. Caledonia Mining's dividend payout ratio is presently 116.67%.

Institutional Trading of Caledonia Mining

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its position in shares of Caledonia Mining by 81.8% in 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 during the period. Bridgeway Capital Management LLC lifted its position in shares of Caledonia Mining by 28.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 146,738 shares of the company's stock worth $2,835,000 after acquiring an additional 32,084 shares during the period. Bank of America Corp DE lifted its position in shares of Caledonia Mining by 1,707.3% in the 2nd quarter. Bank of America Corp DE now owns 17,857 shares of the company's stock worth $345,000 after acquiring an additional 18,968 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Caledonia Mining by 2.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 75,875 shares of the company's stock worth $1,466,000 after acquiring an additional 1,720 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Caledonia Mining in the 2nd quarter worth approximately $386,000. 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.