Caledonia Mining (NYSEAMERICAN:CMCL) Shares Up 3.2% – Time to Buy?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL)’s share price traded up 3.2% during mid-day trading on Friday . The stock traded as high as $28.01 and last traded at $27.96. 47,922 shares changed hands during trading, a decline of 73% from the average session volume of 176,391 shares. The stock had previously closed at $27.09.

Caledonia Mining Stock Up 3.2%

The company has a market capitalization of $537.39 million, a PE ratio of 10.85 and a beta of 0.50. The stock’s fifty day moving average is $27.87 and its two-hundred day moving average is $26.50. The company has a current ratio of 1.78, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Caledonia Mining Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, November 21st. Caledonia Mining’s dividend payout ratio is currently 116.67%.

Institutional Investors Weigh In On Caledonia Mining

A number of hedge funds have recently modified their holdings of CMCL. State of Alaska Department of Revenue bought a new position in Caledonia Mining during the third quarter valued at $27,000. EverSource Wealth Advisors LLC lifted its position in shares of Caledonia Mining by 6,486.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock valued at $37,000 after buying an additional 1,881 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 411 shares during the period. Quarry LP purchased a new stake in Caledonia Mining in the 3rd quarter worth about $50,000. Finally, Optimum Investment Advisors bought a new stake in Caledonia Mining in the 3rd quarter valued at about $54,000. 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.