Caledonia Mining (NYSEAMERICAN:CMCL - Get Free Report) had its target price boosted by analysts at Maxim Group from $21.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Maxim Group's price objective would indicate a potential upside of 35.14% from the company's current price.
Caledonia Mining Stock Performance
NYSEAMERICAN CMCL traded down $0.23 during trading hours on Thursday, hitting $20.72. The company had a trading volume of 101,415 shares, compared to its average volume of 95,748. Caledonia Mining has a fifty-two week low of $8.81 and a fifty-two week high of $22.20. The company has a quick ratio of 0.96, a current ratio of 1.48 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $18.44 and a 200-day simple moving average of $13.17. The firm has a market cap of $398.24 million, a P/E ratio of 15.94 and a beta of 0.32.
Hedge Funds Weigh In On Caledonia Mining
Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Global Investments purchased a new stake in shares of Caledonia Mining during the 4th quarter worth about $148,000. American Century Companies Inc. grew its holdings in shares of 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 purchasing an additional 131,451 shares in the last quarter. Potentia Wealth acquired a new stake in shares of Caledonia Mining during the 4th quarter worth approximately $190,000. JPMorgan Chase & Co. grew its holdings in shares of Caledonia Mining by 59.3% during the 4th quarter. JPMorgan Chase & Co. now owns 12,031 shares of the company's stock worth $113,000 after purchasing an additional 4,479 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Caledonia Mining during the 4th quarter worth approximately $103,000. Institutional investors and hedge funds own 31.78% of the company's stock.
About Caledonia Mining
(
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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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