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

Research analysts at Maxim Group assumed coverage on shares of Caledonia Mining (NYSEAMERICAN:CMCL - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a "buy" rating and a $17.00 price target on the stock. Maxim Group's price objective suggests a potential upside of 69.66% from the company's current price.

Caledonia Mining Stock Performance

CMCL stock traded down $0.28 during mid-day trading on Monday, hitting $10.02. 67,659 shares of the company were exchanged, compared to its average volume of 69,451. The company has a market capitalization of $128.56 million, a P/E ratio of 21.46 and a beta of 0.64. Caledonia Mining has a 1-year low of $8.91 and a 1-year high of $16.95. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.89 and a current ratio of 1.44.

Institutional Trading of Caledonia Mining

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake 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 valued at $7,118,000 after purchasing an additional 53,678 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Caledonia Mining during the second quarter valued at approximately $384,000. Squarepoint Ops LLC acquired a new position in Caledonia Mining during the second quarter worth $314,000. International Assets Investment Management LLC bought a new position in Caledonia Mining in the 3rd quarter valued at about $5,600,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Caledonia Mining by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 188,274 shares of the company's stock valued at $1,830,000 after buying an additional 24,447 shares during the last quarter. 31.78% of the stock is currently owned by institutional investors.

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.