Mackenzie Financial Corp Invests $162,000 in Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)

Key Points

• Mackenzie Financial Corp has acquired a new stake in Caledonia Mining Corporation, purchasing 12,966 shares valued at approximately $162,000.
• Several institutional investors, including JPMorgan Chase & Co. and Renaissance Technologies LLC, have significantly increased their stakes in Caledonia Mining, reflecting growing interest in the stock.
• Caledonia Mining recently announced a quarterly dividend of $0.14 per share, providing a 2.4% dividend yield, although the company's payout ratio is notably high at 116.67%.

Mackenzie Financial Corp purchased a new stake in Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,966 shares of the company's stock, valued at approximately $162,000. Mackenzie Financial Corp owned approximately 0.07% of Caledonia Mining at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CMCL. GAMMA Investing LLC lifted its stake in shares of Caledonia Mining by 2,778.8% during the first quarter. GAMMA Investing LLC now owns 3,397 shares of the company's stock valued at $42,000 after buying an additional 3,279 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Caledonia Mining during the fourth quarter valued at approximately $61,000. Wells Fargo & Company MN lifted its stake in shares of Caledonia Mining by 27.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,651 shares of the company's stock valued at $91,000 after buying an additional 2,103 shares during the period. XTX Topco Ltd purchased a new position in shares of Caledonia Mining during the fourth quarter valued at approximately $97,000. Finally, Franklin Resources Inc. purchased a new position in shares of Caledonia Mining during the fourth quarter valued at approximately $103,000. Hedge funds and other institutional investors own 31.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Maxim Group increased 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.

Caledonia Mining Stock Performance

NYSEAMERICAN:CMCL traded down $1.23 during mid-day trading on Thursday, hitting $22.90. The stock had a trading volume of 81,182 shares, compared to its average volume of 117,077. The stock has a market capitalization of $440.16 million, a price-to-earnings ratio of 11.91 and a beta of 0.22. The company has a 50 day simple moving average of $20.59 and a 200-day simple moving average of $14.78. Caledonia Mining Corporation PLC has a 52 week low of $8.81 and a 52 week high of $24.49. The company has a current ratio of 1.65, a quick ratio of 0.96 and a debt-to-equity ratio of 0.05.

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.