Caledonia Mining (NYSEAMERICAN:CMCL) Shares Down 2.1% – Here’s What Happened

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s stock price traded down 2.1% on Tuesday . The stock traded as low as $18.62 and last traded at $18.91. 243,159 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 257,109 shares. The stock had previously closed at $19.32.

Caledonia Mining Price Performance

The company has a market capitalization of $365.15 million, a P/E ratio of 5.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.66 and a quick ratio of 4.08. The firm’s 50-day moving average is $21.64 and its 200-day moving average is $25.20.

Caledonia Mining (NYSEAMERICAN:CMCL) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.13. Caledonia Mining had a net margin of 23.59% and a return on equity of 23.90%. The business had revenue of $66.43 million for the quarter, compared to analysts’ expectations of $79.20 million.

Caledonia Mining Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.14 per share. The ex-dividend date was Friday, May 22nd. This represents a $0.56 annualized dividend and a yield of 3.0%. Caledonia Mining’s payout ratio is 116.67%.

Insider Activity

In other news, Director July Ndlovu sold 20,000 shares of Caledonia Mining stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $17.19, for a total transaction of $343,800.00. Following the transaction, the director directly owned 229,089 shares of the company’s stock, valued at $3,938,039.91. The trade was a 8.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victor Gapare acquired 11,750 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $18.70 per share, for a total transaction of $219,725.00. Following the completion of the transaction, the director owned 2,455,122 shares in the company, valued at approximately $45,910,781.40. This represents a 0.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.68% of the company’s stock.

Institutional Investors Weigh In On Caledonia Mining

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Montchanin Asset Management LLC bought a new stake in Caledonia Mining during the 1st quarter worth approximately $335,000. Bank of America Corp DE boosted its position in shares of Caledonia Mining by 16.7% in the first quarter. Bank of America Corp DE now owns 71,407 shares of the company’s stock worth $1,613,000 after purchasing an additional 10,232 shares during the period. Royal Bank of Canada increased its stake in shares of Caledonia Mining by 18.0% in the first quarter. Royal Bank of Canada now owns 4,229 shares of the company’s stock worth $95,000 after purchasing an additional 646 shares in the last quarter. Empowered Funds LLC raised its position in shares of Caledonia Mining by 15.4% during the 1st quarter. Empowered Funds LLC now owns 133,178 shares of the company’s stock valued at $3,008,000 after purchasing an additional 17,798 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Caledonia Mining by 33.6% during the 1st quarter. Quantinno Capital Management LP now owns 51,398 shares of the company’s stock valued at $1,161,000 after purchasing an additional 12,922 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 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.