Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) Sees Significant Decline in Short Interest

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 155,000 shares, a drop of 7.9% from the November 15th total of 168,300 shares. Based on an average trading volume of 90,600 shares, the short-interest ratio is presently 1.7 days.

Institutional Investors Weigh In On Caledonia Mining

Several hedge funds and other institutional investors have recently modified their holdings of CMCL. Bank of New York Mellon Corp increased its stake in Caledonia Mining by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 48,073 shares of the company’s stock worth $467,000 after buying an additional 5,087 shares during the period. Van ECK Associates Corp increased its position in shares of Caledonia Mining by 7.9% during the second quarter. Van ECK Associates Corp now owns 732,352 shares of the company’s stock worth $7,118,000 after acquiring an additional 53,678 shares during the period. Rhumbline Advisers raised its stake in shares of Caledonia Mining by 22.5% during the second quarter. Rhumbline Advisers now owns 20,627 shares of the company’s stock valued at $200,000 after acquiring an additional 3,795 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Caledonia Mining by 10.0% in the second quarter. American Century Companies Inc. now owns 102,932 shares of the company’s stock valued at $1,000,000 after purchasing an additional 9,318 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Caledonia Mining by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 188,274 shares of the company’s stock worth $1,830,000 after purchasing an additional 24,447 shares in the last quarter. 31.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Maxim Group assumed coverage on Caledonia Mining in a report on Monday. They issued a “buy” rating and a $17.00 target price for the company.

Caledonia Mining Stock Performance

Caledonia Mining stock opened at $9.93 on Wednesday. The stock has a market capitalization of $127.40 million, a PE ratio of 20.69 and a beta of 0.64. Caledonia Mining has a 12-month low of $8.91 and a 12-month high of $16.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.44 and a quick ratio of 0.89.

Caledonia Mining Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were given a dividend of $0.14 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.56 annualized dividend and a dividend yield of 5.64%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

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.