Caledonia Mining (NYSEAMERICAN:CMCL) Raised to “Speculative Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Caledonia Mining (NYSEAMERICAN:CMCL) from a hold rating to a speculative buy rating in a research note published on Monday morning, Benzinga reports. The firm currently has $13.50 target price on the stock.

Caledonia Mining Price Performance

Shares of NYSEAMERICAN:CMCL opened at $10.25 on Monday. Caledonia Mining has a 12-month low of $8.91 and a 12-month high of $15.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.35 and a quick ratio of 0.85. The firm has a market cap of $131.51 million, a price-to-earnings ratio of -30.15 and a beta of 0.68.

Caledonia Mining (NYSEAMERICAN:CMCL) last released its quarterly earnings data on Thursday, March 28th. The company reported $0.02 earnings per share (EPS) for the quarter. Caledonia Mining had a positive return on equity of 4.06% and a negative net margin of 2.87%. The firm had revenue of $38.66 million during the quarter.

Caledonia Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.46%. The ex-dividend date was Thursday, April 11th. Caledonia Mining’s payout ratio is presently -164.70%.

Institutional Trading of Caledonia Mining

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Caledonia Mining in the third quarter worth about $50,000. Headinvest LLC bought a new position in shares of Caledonia Mining in the 3rd quarter valued at approximately $55,000. SG Americas Securities LLC bought a new stake in Caledonia Mining during the fourth quarter worth approximately $124,000. Barclays PLC grew its holdings in Caledonia Mining by 266.2% during the third quarter. Barclays PLC now owns 21,621 shares of the company’s stock valued at $214,000 after purchasing an additional 15,717 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Caledonia Mining in the third quarter valued at approximately $237,000. 31.78% of the stock is currently 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.