Caledonia Mining (NYSEAMERICAN:CMCL) Stock Price Down 1.6% – Should You Sell?
by Sarita Garza · The Markets DailyCaledonia Mining Corporation PLC (NYSEAMERICAN:CMCL – Get Free Report)’s stock price was down 1.6% on Wednesday . The stock traded as low as $29.09 and last traded at $29.30. Approximately 142,948 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 299,803 shares. The stock had previously closed at $29.79.
Caledonia Mining Price Performance
The firm has a market cap of $563.15 million, a price-to-earnings ratio of 11.36 and a beta of 0.48. The company has a current ratio of 1.78, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $29.23 and its 200-day moving average price is $29.46.
Hedge Funds Weigh In On Caledonia Mining
Several large investors have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Caledonia Mining by 7.6% during the 1st quarter. Empowered Funds LLC now owns 95,454 shares of the company’s stock worth $1,192,000 after purchasing an additional 6,770 shares during the period. Geode Capital Management LLC lifted its position in Caledonia Mining by 1.2% in the second quarter. Geode Capital Management LLC now owns 205,326 shares of the company’s stock valued at $3,967,000 after buying an additional 2,463 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Caledonia Mining during the second quarter worth about $198,000. JPMorgan Chase & Co. increased its position in shares of Caledonia Mining by 10.4% during the second quarter. JPMorgan Chase & Co. now owns 9,559 shares of the company’s stock valued at $185,000 after acquiring an additional 902 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Caledonia Mining during the second quarter valued at about $263,000. Institutional investors and hedge funds own 31.78% of the company’s stock.
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.