Van Eck Associates Corp. recently announced the acquisition of new stake in Caledonia Mining Corporation Plc (AMEX:CMCL). The institutional investor has increased its shareholding in the Basic Materials company by 3.00% to 0.53 million shares with purchase of 15433.0 shares. This fresh investment now brings its stake to 4.13% valued currently at $6.57 million. In addition, Sanlam Investment Management raised its holdings by 0.14 million to 0.25 million shares.
With over 82677.0 Caledonia Mining Corporation Plc (CMCL) shares trading Tuesday and a closing price of $15.74 on the day, the dollar volume was approximately $1.3 million. The shares have shown a positive half year performance of 53.71% and its price on 01/24/23 gained nearly 0.77%. Currently, there are 12.83M common shares owned by the public and among those 11.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for CMCL have a consensus price objective of $17.49. The analysts have set the share’s price value over the next 12 months at a high of $19.50 and a low of $15.46. The average price target is -4.17% below its recent price level and a downside to the estimated low will see the stock lose -1.81% over that period. But an upside of 19.28% will see the stock hit the forecast high price target while median target price for the stock is $17.50.
The top 3 mutual fund holders in Caledonia Mining Corporation Plc are VanEck Junior Gold Miners ETF, Sanlam Qualifying Inv. Fds. Plc -, and Miton UK MicroCap Trust Plc. VanEck Junior Gold Miners ETF owns 0.48 million shares of the company’s stock, all valued at over $5.93 million. Sanlam Qualifying Inv. Fds. Plc – bought 0.14 million shares to see its total holdings expand to 0.25 million shares valued at over $3.1 million and representing 1.95% of the shares outstanding. Miton UK MicroCap Trust Plc bought 0.19 million shares to bring its total holdings to over 0.19 million shares at a value of $2.34 million. Miton UK MicroCap Trust Plc now owns shares totaling to 1.47% of the shares outstanding.
Shares of Caledonia Mining Corporation Plc (AMEX: CMCL) opened at $15.44, down -$0.18 from a prior closing price of $15.62. However, the script later moved the day high at 15.74, up 0.77%. The company’s stock has a 5-day price change of 13.24% and 58.83% over the past three months. CMCL shares are trading 26.94% year to date (YTD), with the 12-month market performance up to 33.96% higher. It has a 12-month low price of $8.75 and touched a high of $18.23 over the same period. CMCL has an average intraday trading volume of 34.44K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 15.48%, 28.19%, and 33.99% respectively.
Institutional ownership of Caledonia Mining Corporation Plc (AMEX: CMCL) shares accounts for 26.20% of the company’s 12.83M shares outstanding. Mutual fund holders own 10.20%, while other institutional holders and individual stakeholders account for 17.70% and — respectively.
It has a market capitalization of $269.63M and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 6.65, while the earnings-per-share (ttm) stands at $2.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.24% over the week and 5.48% over the month.
Analysts forecast that Caledonia Mining Corporation Plc (CMCL) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $1.9 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -14.80%, and 0.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Caledonia Mining Corporation Plc (CMCL) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”