Caledonia Mining (NYSEAMERICAN:CMCL) Shares Down 2.1% – Should You Sell?

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

Caledonia Mining Stock Down 2.1%

The stock’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $25.20. The stock has a market capitalization of $365.15 million, a PE ratio of 5.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.35, a quick ratio of 4.08 and a current ratio of 4.66.

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

Caledonia Mining Announces Dividend

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

Insider Buying and Selling at Caledonia Mining

In related news, Director Victor Gapare purchased 11,750 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $18.70 per share, with a total value of $219,725.00. Following the transaction, the director directly owned 2,455,122 shares in the company, valued at $45,910,781.40. This trade represents a 0.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $343,800.00. Following the completion of the transaction, the director directly owned 229,089 shares of the company’s stock, valued at approximately $3,938,039.91. This represents a 8.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.68% of the company’s stock.

Hedge Funds Weigh In On Caledonia Mining

Hedge funds have recently bought and sold shares of the business. Summit Global Investments lifted its position in Caledonia Mining by 4.6% during the first quarter. Summit Global Investments now owns 13,514 shares of the company’s stock valued at $305,000 after purchasing an additional 598 shares during the period. Deutsche Bank AG raised its stake in Caledonia Mining by 6.0% during the 4th quarter. Deutsche Bank AG now owns 10,699 shares of the company’s stock valued at $280,000 after buying an additional 606 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Caledonia Mining by 18.0% during the 1st quarter. Royal Bank of Canada now owns 4,229 shares of the company’s stock valued at $95,000 after buying an additional 646 shares during the period. Empowered Funds LLC boosted its stake in shares of Caledonia Mining by 0.7% in the 4th quarter. Empowered Funds LLC now owns 115,380 shares of the company’s stock worth $3,019,000 after buying an additional 830 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Caledonia Mining by 296.9% in the first quarter. Meeder Asset Management Inc. now owns 1,151 shares of the company’s stock valued at $26,000 after acquiring an additional 861 shares during the period. Hedge funds and other 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.