Caledonia Mining (NYSEAMERICAN:CMCL) Sets 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) reached a new 52-week high 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.

Analyst Ratings Changes

Separately, Maxim Group raised their price objective 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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, Caledonia Mining presently has a consensus rating of "Buy" and an average target price of $28.00.

Caledonia Mining Price Performance

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 company's 50 day moving average price is $22.62 and its 200 day moving average price is $16.86. The firm has a market capitalization of $569.68 million, a P/E ratio of 15.33 and a beta of 0.35.

Caledonia Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 1.9%. Caledonia Mining's dividend payout ratio (DPR) is presently 116.67%.

Hedge Funds Weigh In On Caledonia Mining

A number of hedge funds and other institutional investors have recently bought and sold shares of CMCL. EverSource Wealth Advisors LLC boosted its stake in Caledonia Mining by 6,486.2% in 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 during the last quarter. GAMMA Investing LLC boosted its stake in Caledonia Mining by 2,778.8% in 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 during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Caledonia Mining during the fourth quarter worth $61,000. Legal & General Group Plc boosted its position in shares of Caledonia Mining by 166.9% during the second quarter. Legal & General Group Plc now owns 3,617 shares of the company's stock worth $70,000 after purchasing an additional 2,262 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Caledonia Mining by 56.2% during the first quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company's stock worth $75,000 after purchasing an additional 2,160 shares in the last quarter. 31.78% of the stock is owned by institutional investors.

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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