Caledonia Mining (NYSEAMERICAN:CMCL) Now Covered by Maxim Group

Research analysts at Maxim Group began coverage on shares of Caledonia Mining (NYSEAMERICAN:CMCL) in a report released on Monday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $17.00 price target on the stock. Maxim Group’s price target points to a potential upside of 65.05% from the stock’s current price.

Caledonia Mining Stock Down 4.5 %

Shares of NYSEAMERICAN:CMCL opened at $10.30 on Monday. 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 has a one year low of $8.91 and a one year high of $16.95. The stock has a market capitalization of $132.15 million, a PE ratio of 21.46 and a beta of 0.64.

Hedge Funds Weigh In On Caledonia Mining

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in Caledonia Mining by 22.5% during the 2nd quarter. Rhumbline Advisers now owns 20,627 shares of the company’s stock valued at $200,000 after buying an additional 3,795 shares during the period. BNP Paribas Financial Markets grew its stake in Caledonia Mining by 358.2% in the third quarter. BNP Paribas Financial Markets now owns 17,500 shares of the company’s stock valued at $262,000 after purchasing an additional 13,681 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Caledonia Mining in the second quarter valued at approximately $314,000. Marshall Wace LLP bought a new stake in Caledonia Mining in the second quarter worth $384,000. Finally, Bank of New York Mellon Corp grew its holdings in Caledonia Mining by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 48,073 shares of the company’s stock valued at $467,000 after purchasing an additional 5,087 shares during the last quarter. Hedge funds and other institutional investors own 31.78% of the company’s stock.

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.