Caledonia Mining (NYSEAMERICAN:CMCL) Shares Up 9.5% – Time to Buy?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) traded up 9.5% during mid-day trading on Friday . The stock traded as high as $26.00 and last traded at $26.2350. 43,925 shares traded hands during trading, a decline of 75% from the average session volume of 175,395 shares. The stock had previously closed at $23.96.

Caledonia Mining Price Performance

The stock has a fifty day moving average of $28.82 and a two-hundred day moving average of $26.20. The stock has a market cap of $518.65 million, a price-to-earnings ratio of 10.46 and a beta of 0.50. The company has a quick ratio of 1.20, a current ratio of 1.78 and a debt-to-equity ratio of 0.02.

Caledonia Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a $0.14 dividend. The ex-dividend date was Friday, November 21st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.1%. Caledonia Mining’s dividend payout ratio is currently 116.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new stake in shares of Caledonia Mining in the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of Caledonia Mining by 6,486.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock valued at $37,000 after acquiring an additional 1,881 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Caledonia Mining by 65.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,037 shares of the company’s stock worth $38,000 after purchasing an additional 411 shares in the last quarter. Quarry LP purchased a new stake in Caledonia Mining during the 3rd quarter worth about $50,000. Finally, Optimum Investment Advisors purchased a new position in shares of Caledonia Mining during the third quarter valued at approximately $54,000. Hedge funds and other institutional investors own 31.78% of the company’s stock.

About Caledonia Mining

Caledonia Mining Corporation PLC is a UK‐domiciled gold producer listed on the NYSE American under the ticker CMCL and on the London AIM market. The company’s flagship asset is the Blanket gold mine, located near Gwanda in southwestern Zimbabwe. Blanket is a conventional underground and surface gold operation that includes a carbon‐in‐leach processing plant and tailings retreatment facilities, providing a structurally diverse resource base and established production infrastructure.

Caledonia acquired the Blanket mine in 2004, adding to its long operating history that traces back to the early 20th century.