Caledonia Mining said on April 3, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Previously, the company paid $0.14 per share.
Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023.
At the current share price of $15.59 / share, the stock's dividend yield is 3.59%. Looking back five years and taking a sample every week, the average dividend yield has been 3.82%, the lowest has been 1.26%, and the highest has been 6.38%. The standard deviation of yields is 1.05 (n=236).
The current dividend yield is 0.21 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.87%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 5.52% Downside
As of March 30, 2023, the average one-year price target for Caledonia Mining is $14.73. The forecasts range from a low of $10.81 to a high of $18.38. The average price target represents a decrease of 5.52% from its latest reported closing price of $15.59.
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The projected annual revenue for Caledonia Mining is $154MM, an increase of 13.79%. The projected annual non-GAAP EPS is $2.51.
What is the Fund Sentiment?
There are 58 funds or institutions reporting positions in Caledonia Mining. This is an increase of 8 owner(s) or 16.00% in the last quarter. Average portfolio weight of all funds dedicated to CMCL is 0.05%, an increase of 94.07%. Total shares owned by institutions increased in the last three months by 24.33% to 1,768K shares. The put/call ratio of CMCL is 0.26, indicating a bullish outlook.
What are Large Shareholders Doing?
Van Eck Associates holds 531K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 480K shares, representing an increase of 9.74%. The firm increased its portfolio allocation in CMCL by 21.46% over the last quarter.
GDXJ - VanEck Vectors Junior Gold Miners ETF holds 479K shares representing 2.65% ownership of the company. In it's prior filing, the firm reported owning 434K shares, representing an increase of 9.32%. The firm increased its portfolio allocation in CMCL by 11.97% over the last quarter.
Goehring & Rozencwajg Associates holds 141K shares representing 0.78% ownership of the company.
GRHIX - Goehring & Rozencwajg Resources Fund Institutional Class Shares holds 89K shares representing 0.49% ownership of the company. In it's prior filing, the firm reported owning 84K shares, representing an increase of 5.16%. The firm increased its portfolio allocation in CMCL by 10.85% over the last quarter.
Herr Investment Group holds 88K shares representing 0.48% ownership of the company.
Caledonia Mining Background Information
(This description is provided by the company.)
Caledonia Mining is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe. By 2022 the Company plans to increase its annual production by 45%, up to 80,000 ounces. Caledonia is committed to evaluating investment opportunities in Zimbabwe and has entered into two option agreements to acquire the mining claims over Glen Hume and Connemara North. The Company's vision is to become a multi asset gold producer in one of the last gold frontiers in Africa.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
