Caledonia Mining (NYSEAMERICAN:CMCL) Earns Buy Rating from Analysts at Maxim Group

Maxim Group assumed coverage on shares of Caledonia Mining (NYSEAMERICAN:CMCL) in a research report released on Monday morning, MarketBeat reports. The firm issued a buy rating and a $17.00 price target on the stock.

Caledonia Mining Trading Down 4.8 %

CMCL opened at $9.45 on Monday. The firm has a market cap of $121.24 million, a price-to-earnings ratio of 19.69 and a beta of 0.64. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.44. Caledonia Mining has a fifty-two week low of $8.91 and a fifty-two week high of $16.95.

Caledonia Mining Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend was Friday, November 22nd. Caledonia Mining’s payout ratio is 116.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new stake in Caledonia Mining during the 3rd quarter worth about $2,759,000. Renaissance Technologies LLC bought a new stake in shares of Caledonia Mining during the second quarter valued at approximately $656,000. Van ECK Associates Corp increased its holdings in shares of Caledonia Mining by 7.9% in the second quarter. Van ECK Associates Corp now owns 732,352 shares of the company’s stock valued at $7,118,000 after purchasing an additional 53,678 shares in the last quarter. Martingale Asset Management L P raised its position in Caledonia Mining by 164.5% in the 3rd quarter. Martingale Asset Management L P now owns 76,063 shares of the company’s stock worth $1,138,000 after purchasing an additional 47,307 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Caledonia Mining in the 2nd quarter worth approximately $384,000. 31.78% of the stock is owned by institutional investors and hedge funds.

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.