Caledonia Mining (NYSEAMERICAN:CMCL) Shares Gap Down – Here’s Why

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) gapped down before the market opened on Thursday . The stock had previously closed at $32.41, but opened at $26.70. Caledonia Mining shares last traded at $26.23, with a volume of 1,501,711 shares trading hands.

Caledonia Mining Stock Down 16.1%

The stock has a market cap of $522.32 million, a PE ratio of 10.50 and a beta of 0.50. The business has a 50 day moving average price of $27.32 and a 200 day moving average price of $27.46. The company has a quick ratio of 1.20, a current ratio of 1.78 and a debt-to-equity ratio of 0.02.

Caledonia Mining Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Friday, November 21st were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $0.56 dividend on an annualized basis and a yield of 2.1%. Caledonia Mining’s dividend payout ratio is 116.67%.

Institutional Trading of Caledonia Mining

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in Caledonia Mining by 65.7% in 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Caledonia Mining in the third quarter valued at approximately $27,000. JPMorgan Chase & Co. boosted its stake in shares of Caledonia Mining by 10.4% in the second quarter. JPMorgan Chase & Co. now owns 9,559 shares of the company’s stock worth $185,000 after acquiring an additional 902 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Caledonia Mining by 10.8% in the third quarter. Alliancebernstein L.P. now owns 12,340 shares of the company’s stock worth $447,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Caledonia Mining during the third quarter worth approximately $50,000. 31.78% of the stock is currently owned by hedge funds and other institutional investors.

Caledonia Mining Company 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.