Caledonia Mining (NYSEAMERICAN:CMCL) Trading Down 9.9% – Here’s Why

Shares of Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) traded down 9.9% during trading on Monday . The stock traded as low as $28.42 and last traded at $27.77. 49,998 shares were traded during mid-day trading, a decline of 70% from the average session volume of 169,327 shares. The stock had previously closed at $30.81.

Caledonia Mining Trading Down 10.8%

The firm’s 50-day simple moving average is $31.96 and its 200 day simple moving average is $25.56. The firm has a market capitalization of $528.07 million, a price-to-earnings ratio of 10.65 and a beta of 0.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.20.

Caledonia Mining Dividend Announcement

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

Institutional Trading of Caledonia Mining

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new stake in Caledonia Mining in the first quarter worth $162,000. GSA Capital Partners LLP acquired a new stake in shares of Caledonia Mining in the 1st quarter valued at about $660,000. Deutsche Bank AG increased its position 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 buying an additional 2,620 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Caledonia Mining by 56.2% during the 1st quarter. Russell Investments Group Ltd. now owns 6,005 shares of the company’s stock worth $75,000 after buying an additional 2,160 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Caledonia Mining by 5.7% in the first quarter. American Century Companies Inc. now owns 367,897 shares of the company’s stock worth $4,595,000 after acquiring an additional 19,916 shares in the last quarter. Institutional investors and hedge funds own 31.78% of the company’s stock.

About Caledonia Mining

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.