Caledonia Mining (NYSEAMERICAN:CMCL) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $19.70 and traded as low as $18.09. Caledonia Mining shares last traded at $18.39, with a volume of 175,714 shares traded.

Caledonia Mining Price Performance

The company has a current ratio of 4.66, a quick ratio of 4.08 and a debt-to-equity ratio of 0.35. The company has a market cap of $355.11 million, a P/E ratio of 5.76 and a beta of 0.67. The business’s fifty day moving average is $19.70 and its 200 day moving average is $24.07.

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

Caledonia Mining Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.14 dividend. The ex-dividend date was Friday, May 22nd. This represents a $0.56 annualized dividend and a dividend yield of 3.0%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

Insider Activity at Caledonia Mining

In related news, Director July Ndlovu sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were 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 trade represents a 8.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Victor Gapare acquired 11,750 shares of Caledonia Mining stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $18.70 per share, with a total value of $219,725.00. Following the completion of the purchase, the director directly owned 2,455,122 shares in the company, valued at $45,910,781.40. This represents a 0.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 3.68% of the company’s stock.

Institutional Investors Weigh In On Caledonia Mining

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC lifted its position in shares of Caledonia Mining by 7.6% during the first quarter. Empowered Funds LLC now owns 95,454 shares of the company’s stock worth $1,192,000 after acquiring an additional 6,770 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 2,463 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 valued at $185,000 after purchasing an additional 902 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Caledonia Mining by 166.9% during the 2nd quarter. Legal & General Group Plc now owns 3,617 shares of the company’s stock valued at $70,000 after purchasing an additional 2,262 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Caledonia Mining by 32.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,933 shares of the company’s stock valued at $153,000 after purchasing an additional 1,928 shares during the period. 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.