Short Interest in Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) Drops By 7.9%

Caledonia Mining Co. Plc (NYSEAMERICAN:CMCL) was the target of a large drop in short interest in 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 daily trading volume, of 90,600 shares, the days-to-cover ratio is currently 1.7 days.

Caledonia Mining Trading Down 0.3 %

Shares of CMCL traded down $0.03 during mid-day trading on Tuesday, reaching $9.99. 14,760 shares of the stock traded hands, compared to its average volume of 69,221. Caledonia Mining has a 12-month low of $8.91 and a 12-month high of $16.95. The company has a quick ratio of 0.89, a current ratio of 1.44 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $128.17 million, a P/E ratio of 20.88 and a beta of 0.64.

Caledonia Mining Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.14 per share. The ex-dividend date was Friday, November 22nd. This represents a $0.56 dividend on an annualized basis and a yield of 5.61%. Caledonia Mining’s dividend payout ratio (DPR) is presently 116.67%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Caledonia Mining

Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in Caledonia Mining by 0.6% during the 3rd quarter. State Street Corp now owns 203,534 shares of the company’s stock worth $3,045,000 after buying an additional 1,177 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Caledonia Mining by 7.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 40,734 shares of the company’s stock worth $609,000 after purchasing an additional 2,717 shares during the period. Rhumbline Advisers increased its stake in 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 purchasing an additional 3,795 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Caledonia Mining by 2.3% during the third quarter. Geode Capital Management LLC now owns 199,796 shares of the company’s stock worth $2,989,000 after purchasing an additional 4,412 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 last quarter. 31.78% of the stock is 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.