Los Angeles Capital Management LLC Sells 8,584 Shares of Caledonia Mining Corporation PLC $CMCL

Los Angeles Capital Management LLC lowered its stake in Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) by 7.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 110,813 shares of the company’s stock after selling 8,584 shares during the period. Los Angeles Capital Management LLC owned approximately 0.58% of Caledonia Mining worth $2,141,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in shares of Caledonia Mining by 56.2% during the first quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company’s stock worth $75,000 after acquiring an additional 2,160 shares during the period. Mackenzie Financial Corp bought a new stake in Caledonia Mining in the 1st quarter valued at $162,000. Deutsche Bank AG boosted its stake in Caledonia Mining by 23.8% in the 1st quarter. Deutsche Bank AG now owns 13,639 shares of the company’s stock valued at $170,000 after purchasing an additional 2,620 shares during the period. Ethic Inc. grew its holdings in Caledonia Mining by 71.1% in the 2nd quarter. Ethic Inc. now owns 23,553 shares of the company’s stock valued at $454,000 after buying an additional 9,786 shares in the last quarter. Finally, Bailard Inc. bought a new position in Caledonia Mining during the 1st quarter worth $313,000. 31.78% of the stock is currently owned by institutional investors and hedge funds.

Caledonia Mining Stock Performance

NYSEAMERICAN CMCL opened at $28.32 on Wednesday. The firm’s fifty day moving average price is $32.46 and its two-hundred day moving average price is $24.15. The stock has a market cap of $544.31 million, a PE ratio of 10.98 and a beta of 0.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.65. Caledonia Mining Corporation PLC has a fifty-two week low of $8.81 and a fifty-two week high of $38.75.

Caledonia Mining Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, November 21st. This represents a $0.56 annualized dividend and a yield of 2.0%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

Analyst Upgrades and Downgrades

Separately, Maxim Group boosted their price objective on shares of Caledonia Mining from $21.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, July 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $28.00.

Caledonia Mining Company Profile

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.