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

Key Points

• Caledonia Mining's shares gapped down from a previous close of $31.25 to an opening price of $30.20, with a current trading price of $31.22.
• Maxim Group raised their price target on Caledonia Mining from $21.00 to $28.00, maintaining a "buy" rating, which aligns with the consensus rating of "Buy" among analysts.
• The company recently declared a quarterly dividend of $0.14 per share, contributing to an annualized dividend yield of 1.8% despite a high dividend payout ratio of 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $31.25, but opened at $30.20. Caledonia Mining shares last traded at $31.22, with a volume of 31,165 shares.

Wall Street Analysts Forecast Growth

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

Caledonia Mining Stock Up 4.7%

The stock has a market capitalization of $640.41 million, a PE ratio of 17.26 and a beta of 0.35. The company has a current ratio of 1.65, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. The company's 50-day moving average is $24.81 and its 200 day moving average is $18.46.

Caledonia Mining Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 1.7%. Caledonia Mining's dividend payout ratio (DPR) is currently 116.67%.

Hedge Funds Weigh In On Caledonia Mining

Institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Caledonia Mining by 16.8% during the 4th quarter. Ameriprise Financial Inc. now owns 102,377 shares of the company's stock valued at $963,000 after purchasing an additional 14,689 shares in the last quarter. American Century Companies Inc. increased its holdings in Caledonia Mining by 5.7% in the 1st quarter. American Century Companies Inc. now owns 367,897 shares of the company's stock worth $4,595,000 after acquiring an additional 19,916 shares in the last quarter. GAMMA Investing LLC increased its holdings in Caledonia Mining by 2,778.8% in the 1st quarter. GAMMA Investing LLC now owns 3,397 shares of the company's stock worth $42,000 after acquiring an additional 3,279 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Caledonia Mining in the 1st quarter worth $660,000. Finally, Rhumbline Advisers increased its holdings in Caledonia Mining by 50.3% in the 1st quarter. Rhumbline Advisers now owns 38,458 shares of the company's stock worth $480,000 after acquiring an additional 12,869 shares in the last quarter. 31.78% of the stock is owned by hedge funds and other institutional investors.

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.