Caledonia Mining (NYSEAMERICAN:CMCL) Trading Down 4.7% - Here's What Happened

Key Points

• Caledonia Mining's stock price fell by 4.7% to $35.57, with trading volume declining to 89,919 shares, a 39% drop from its average session volume.
• Maxim Group raised its target price for Caledonia Mining from $21.00 to $28.00 and maintained a "buy" rating for the stock, which currently holds an average rating of "Buy."
• The company declared a quarterly dividend of $0.14 per share, reflecting an annualized yield of 1.5%, despite a payout ratio of 116.67%.

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Get Free Report)'s stock price fell 4.7% on Thursday . The stock traded as low as $35.70 and last traded at $35.57. 89,919 shares were traded during trading, a decline of 39% from the average session volume of 146,712 shares. The stock had previously closed at $37.32.

Analyst Ratings Changes

Separately, Maxim Group increased their target price 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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Caledonia Mining has an average rating of "Buy" and a consensus target price of $28.00.

Caledonia Mining Stock Down 2.0%

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 stock has a market cap of $703.07 million, a P/E ratio of 18.96 and a beta of 0.39. The firm has a 50-day simple moving average of $27.04 and a two-hundred day simple moving average of $19.88.

Caledonia Mining Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a 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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Caledonia Mining by 5.7% in the first 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 during the period. GAMMA Investing LLC lifted its stake in shares of Caledonia Mining by 2,778.8% in the first quarter. GAMMA Investing LLC now owns 3,397 shares of the company's stock worth $42,000 after acquiring an additional 3,279 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Caledonia Mining in the first quarter worth approximately $660,000. Rhumbline Advisers lifted its stake in shares of Caledonia Mining by 50.3% in the first quarter. Rhumbline Advisers now owns 38,458 shares of the company's stock worth $480,000 after acquiring an additional 12,869 shares during the period. Finally, Bailard Inc. acquired a new position in shares of Caledonia Mining in the first quarter worth approximately $313,000. 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.

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