Maxim Group Raises Caledonia Mining (NYSEAMERICAN:CMCL) Price Target to $28.00

Caledonia Mining (NYSEAMERICAN:CMCL - Get Free Report) had its price target hoisted by analysts at Maxim Group from $21.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's target price would indicate a potential upside of 28.53% from the company's previous close.

Caledonia Mining Stock Up 7.2%

CMCL traded up $1.47 during trading on Thursday, reaching $21.79. 159,222 shares of the stock were exchanged, compared to its average volume of 96,280. Caledonia Mining has a twelve month low of $8.81 and a twelve month high of $22.20. The stock has a market cap of $418.71 million, a P/E ratio of 16.76 and a beta of 0.32. The stock's 50 day moving average price is $18.72 and its two-hundred day moving average price is $13.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 1.48.

Institutional Investors Weigh In On Caledonia Mining

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its holdings in shares of Caledonia Mining by 16.8% in the fourth quarter. Ameriprise Financial Inc. now owns 102,377 shares of the company's stock worth $963,000 after buying an additional 14,689 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Caledonia Mining by 112.7% during the 4th quarter. Renaissance Technologies LLC now owns 156,527 shares of the company's stock worth $1,473,000 after acquiring an additional 82,927 shares during the period. GAMMA Investing LLC increased its holdings in Caledonia Mining by 2,778.8% during 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 during the period. Rhumbline Advisers increased its holdings in Caledonia Mining by 50.3% during 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 during the period. Finally, American Century Companies Inc. increased its holdings in Caledonia Mining by 60.7% during the 4th quarter. American Century Companies Inc. now owns 347,981 shares of the company's stock worth $3,275,000 after acquiring an additional 131,451 shares during the period. 31.78% of the stock is owned by hedge funds and other institutional investors.

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.