Caledonia Mining (NYSEAMERICAN:CMCL) Shares Gap Down - Should You Sell?

Key Points

• Caledonia Mining shares gapped down from $32.39 to $30.61 before trading on Wednesday, with the stock last trading at $31.82 as of the report.
• Maxim Group raised their target price for Caledonia Mining from $21.00 to $28.00 and assigned it a "buy" rating, contributing to a consensus rating of "Buy" among analysts.
• The company declared a quarterly dividend of $0.14 per share, reflecting a 1.7% yield and a payout ratio of 116.67%.

Shares of Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $32.39, but opened at $30.61. Caledonia Mining shares last traded at $31.82, with a volume of 67,077 shares.

Analysts Set New Price Targets

Separately, Maxim Group increased their target price 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 has a consensus rating of "Buy" and a consensus target price of $28.00.

Caledonia Mining Stock Performance

The firm's 50-day moving average price is $31.15 and its two-hundred day moving average price is $22.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.65. The stock has a market cap of $625.80 million, a price-to-earnings ratio of 16.87 and a beta of 0.39.

Caledonia Mining Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.7%. Caledonia Mining's payout ratio is presently 116.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Optimum Investment Advisors acquired a new position in Caledonia Mining in the third quarter valued at about $54,000. EverSource Wealth Advisors LLC boosted 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 worth $37,000 after buying an additional 1,881 shares during the period. GAMMA Investing LLC boosted 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 worth $42,000 after buying an additional 3,279 shares during the period. Legal & General Group Plc boosted 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 worth $70,000 after buying an additional 2,262 shares during the period. Finally, Osaic Holdings Inc. boosted 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 worth $81,000 after buying an additional 1,886 shares during the period. Institutional investors and hedge funds 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.

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