Maxim Group Initiates Coverage on Caledonia Mining (NYSEAMERICAN:CMCL)

Equities research analysts at Maxim Group initiated coverage on shares of Caledonia Mining (NYSEAMERICAN:CMCL) in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Maxim Group’s target price would indicate a potential upside of 71.20% from the stock’s current price.

Caledonia Mining Trading Down 0.9 %

Shares of Caledonia Mining stock opened at $9.93 on Monday. Caledonia Mining has a 52 week low of $8.91 and a 52 week high of $16.95. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $127.40 million, a price-to-earnings ratio of 20.69 and a beta of 0.64.

Institutional Investors Weigh In On Caledonia Mining

A number of institutional investors and hedge funds have recently modified their holdings of CMCL. Van ECK Associates Corp boosted its stake in Caledonia Mining by 7.9% in the 2nd quarter. Van ECK Associates Corp now owns 732,352 shares of the company’s stock worth $7,118,000 after purchasing an additional 53,678 shares during the period. Marshall Wace LLP acquired a new stake in shares of Caledonia Mining in the second quarter worth $384,000. Squarepoint Ops LLC purchased a new position in shares of Caledonia Mining during the second quarter valued at $314,000. International Assets Investment Management LLC acquired a new position in Caledonia Mining during the third quarter valued at $5,600,000. Finally, Dimensional Fund Advisors LP lifted its stake in Caledonia Mining by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 188,274 shares of the company’s stock worth $1,830,000 after acquiring an additional 24,447 shares in the last quarter. 31.78% of the stock is owned by institutional investors and hedge funds.

Caledonia Mining Company Profile

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.