Navellier & Associates Inc. Cuts Stake in Caledonia Mining Corporation PLC $CMCL

Navellier & Associates Inc. lowered its stake in shares of Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) by 65.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,873 shares of the company’s stock after selling 34,498 shares during the quarter. Navellier & Associates Inc.’s holdings in Caledonia Mining were worth $341,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in Caledonia Mining by 7.6% in the first quarter. Empowered Funds LLC now owns 95,454 shares of the company’s stock valued at $1,192,000 after acquiring an additional 6,770 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Caledonia Mining by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 205,326 shares of the company’s stock worth $3,967,000 after purchasing an additional 2,463 shares during the period. JPMorgan Chase & Co. lifted its stake in Caledonia Mining by 10.4% in the second quarter. JPMorgan Chase & Co. now owns 9,559 shares of the company’s stock valued at $185,000 after purchasing an additional 902 shares during the last quarter. Legal & General Group Plc lifted its stake in Caledonia Mining by 166.9% in the second quarter. Legal & General Group Plc now owns 3,617 shares of the company’s stock valued at $70,000 after purchasing an additional 2,262 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Caledonia Mining by 32.1% during the second quarter. Russell Investments Group Ltd. now owns 7,933 shares of the company’s stock valued at $153,000 after purchasing an additional 1,928 shares during the period. Institutional investors own 31.78% of the company’s stock.

Insider Buying and Selling at Caledonia Mining

In related news, Director Victor Gapare acquired 11,750 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $18.70 per share, with a total value of $219,725.00. Following the acquisition, the director owned 2,455,122 shares of the company’s stock, valued at approximately $45,910,781.40. This trade represents a 0.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director July Ndlovu bought 21,400 shares of Caledonia Mining stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $23.03 per share, with a total value of $492,842.00. Following the acquisition, the director directly owned 250,489 shares in the company, valued at approximately $5,768,761.67. This represents a 9.34% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.68% of the company’s stock.

Caledonia Mining Price Performance

Shares of NYSEAMERICAN CMCL opened at $25.63 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 5.73 and a quick ratio of 5.03. The stock has a market capitalization of $494.92 million, a PE ratio of 7.34 and a beta of 0.67. Caledonia Mining Corporation PLC has a one year low of $15.85 and a one year high of $38.75. The business’s fifty day moving average price is $20.44 and its 200-day moving average price is $23.11.

Caledonia Mining (NYSEAMERICAN:CMCL) last released its quarterly earnings data on Monday, August 10th. The company reported $1.36 EPS for the quarter, beating the consensus estimate of $0.54 by $0.82. The business had revenue of $75.91 million for the quarter, compared to the consensus estimate of $82.00 million. Caledonia Mining had a net margin of 23.87% and a return on equity of 23.29%.

Caledonia Mining Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 4th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $0.56 dividend on an annualized basis and a yield of 2.2%. Caledonia Mining’s payout ratio is presently 116.67%.

Caledonia Mining Profile

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.