Caledonia Mining (NYSEAMERICAN:CMCL) Shares Gap Down – Should You Sell?

Shares of Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) gapped down prior to trading on Tuesday . The stock had previously closed at $31.57, but opened at $30.14. Caledonia Mining shares last traded at $29.1930, with a volume of 154,153 shares.

Caledonia Mining Stock Down 4.5%

The company’s fifty day simple moving average is $27.42 and its 200 day simple moving average is $27.96. 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 firm has a market capitalization of $579.58 million, a P/E ratio of 11.69 and a beta of 0.50.

Caledonia Mining Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 21st were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 21st. Caledonia Mining’s payout ratio is presently 116.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMCL. State of Alaska Department of Revenue bought a new stake in shares of Caledonia Mining during the third quarter valued at approximately $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Caledonia Mining by 6,486.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the company’s stock valued at $37,000 after buying an additional 1,881 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of 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 buying an additional 411 shares during the period. Quarry LP bought a new position in shares of Caledonia Mining in the 3rd quarter worth about $50,000. Finally, Optimum Investment Advisors purchased a new position in Caledonia Mining during the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors 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.