Caledonia Mining (NYSEAMERICAN:CMCL) Sets New 52-Week High - Here's What Happened

Key Points

• Caledonia Mining's share price reached a new 52-week high of $38.75 on Monday, with a closing price of $38.14 and a trading volume of 98,378 shares.
• Maxim Group has upgraded the company’s price target to $28.00 with a "buy" rating, indicating positive sentiment from Wall Street analysts.
• Caledonia Mining recently announced a quarterly dividend of $0.14 per share, translating to a 1.5% dividend yield and a payout ratio of 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The company traded as high as $38.75 and last traded at $38.14, with a volume of 98378 shares changing hands. The stock had previously closed at $36.90.

Wall Street Analysts Forecast Growth

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

Caledonia Mining Stock Performance

The stock has a 50-day moving average price of $27.64 and a 200 day moving average price of $20.35. 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 firm has a market capitalization of $725.75 million, a price-to-earnings ratio of 19.56 and a beta of 0.39.

Caledonia Mining Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in shares of Caledonia Mining by 17.8% in the 2nd quarter. American Century Companies Inc. now owns 433,337 shares of the company's stock valued at $8,372,000 after acquiring an additional 65,440 shares during the last quarter. Goehring & Rozencwajg Associates LLC increased its stake in Caledonia Mining by 2.6% in the first quarter. Goehring & Rozencwajg Associates LLC now owns 232,034 shares of the company's stock valued at $2,692,000 after purchasing an additional 5,813 shares during the last quarter. Geode Capital Management LLC raised its holdings in Caledonia Mining by 1.2% during the second quarter. Geode Capital Management LLC now owns 205,326 shares of the company's stock worth $3,967,000 after purchasing an additional 2,463 shares in the last quarter. Marshall Wace LLP raised its holdings in Caledonia Mining by 287.0% during the second quarter. Marshall Wace LLP now owns 164,533 shares of the company's stock worth $3,179,000 after purchasing an additional 122,022 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Caledonia Mining by 28.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 146,738 shares of the company's stock worth $2,835,000 after buying an additional 32,084 shares during the last quarter. 31.78% of the stock is owned by institutional investors and hedge funds.

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.

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