Caledonia Mining Corporation PLC CMCL
- Market cap
- $461.5M
- P/E
- 6.0×
Follow CMCL
Target Price Range
Analyst price targets
Free account| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2.70 | 5.17 | 5.01 | 5.01 | 6.51 | 10.65 | 8.75 | 9.48 | 8.91 | 8.81 |
Analyst estimates 2026–2028 Powerpack |
Low Price
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| 9.20 | 7.96 | 9.94 | 8.68 | 29.39 | 18.58 | 18.23 | 17.58 | 16.95 | 38.75 |
High Price
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| 782 | 1,429 | 1,465 | 1,586 | 1,718 | 1,949 | 2,147 | 2,332 | 2,204 | 2,357 |
Employees
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| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue/Emp
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| 62 | 70 | 68 | 76 | 100 | 121 | 142 | 146 | 183 | 268 |
Revenue
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| 37.90% | 37.73% | 31.56% | 41.07% | 46.66% | 44.57% | 43.51% | 28.35% | 42.07% | 51.23% |
Gross Margin
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| 19 | 21 | 21 | 61 | 40 | 38 | 40 | 8 | 41 | 107 |
EBT
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| 30.33% | 29.51% | 31.00% | 80.04% | 40.43% | 31.32% | 27.90% | 5.45% | 22.15% | 39.81% |
EBT Margin
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| 11 | 21 | 21 | 61 | 41 | 38 | 40 | 11 | 44 | 110 |
Net Income
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| 3 | 4 | 4 | 4 | 5 | 8 | 10 | 14 | 16 | 16 |
Depreciation
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| 5.93 | 6.58 | 6.45 | 7.15 | 8.54 | 9.97 | 11.07 | 7.86 | 9.53 | 13.89 |
Revenue/Sh
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| 0.80 | 0.86 | 0.99 | 3.82 | 1.73 | 1.49 | 1.36 | (0.24) | 0.91 | 2.83 |
Earnings/Sh
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| 2.20 | 2.31 | 1.67 | 1.70 | 2.65 | 2.54 | 3.32 | 0.79 | 2.19 | 3.95 |
Cash Flow/Sh
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| (1.90) | (2.04) | (1.90) | (1.89) | (2.38) | (3.11) | (3.44) | (1.63) | (1.63) | (1.87) |
Capex/Sh
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| 0.30 | 0.27 | (0.24) | (0.19) | 0.27 | (0.57) | (0.11) | (0.84) | 0.55 | 2.08 |
Free CF/Sh
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| 5.67 | 6.52 | 7.43 | 11.76 | 13.50 | 14.84 | 15.08 | 12.04 | 12.21 | 14.71 |
Book Value/Sh
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| 10 | 11 | 11 | 11 | 12 | 12 | 13 | 19 | 19 | 19 |
Shares
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| 7.25 | 9.02 | 5.36 | 2.20 | 9.07 | 7.88 | 9.38 | 0.00 | 9.80 | 10.14 |
PE Ratio
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| 0.98 | 1.15 | 0.81 | 1.18 | 1.86 | 1.17 | 1.15 | 1.59 | 0.99 | 2.14 |
PS Ratio
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| 1.02 | 1.16 | 0.71 | 0.72 | 1.18 | 0.79 | 0.85 | 1.04 | 0.77 | 1.81 |
PB Ratio
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| 0.80 | 1.00 | 0.80 | 1.09 | 1.66 | 1.04 | 1.14 | 1.71 | 1.10 | 2.07 |
EV/Sales
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| 15.76 | 24.18 | (21.68) | (42.14) | 53.23 | (18.19) | (109.72) | (16.03) | 18.84 | 18.26 |
EV/FCF
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| 23 | 25 | 18 | 18 | 31 | 31 | 43 | 15 | 42 | 76 |
Op' Cash Flow
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| (20) | (22) | (20) | (20) | (28) | (38) | (44) | (30) | (31) | (36) |
Capex
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| 3 | 3 | (3) | (2) | 3 | (7) | (1) | (16) | 11 | 40 |
FCF
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| 16 | 12 | 16 | 20 | 35 | 35 | 6 | 14 | 16 | 35 |
Working Cap'
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| 3 | 2 | 6 | 3 | 1 | 1 | 5 | 24 | 24 | 25 |
Total Debt
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| (11) | (11) | (5) | (7) | (20) | (16) | (2) | 17 | 20 | (17) |
Net Debt
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| 59 | 69 | 79 | 125 | 158 | 181 | 193 | 224 | 234 | 284 |
Sh' Equity
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| 10.43% | 9.35% | 9.13% | 31.21% | 12.63% | 9.30% | 8.03% | (2.88%) | 5.18% | 14.35% |
ROA
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| 24.73% | 22.24% | 18.20% | 32.20% | 18.52% | 14.56% | 13.13% | 2.83% | 10.73% | 25.72% |
ROIC
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| 15.55% | 14.60% | 14.55% | 41.29% | 14.35% | 10.68% | 9.57% | (3.89%) | 7.64% | 21.05% |
ROE
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Caledonia Mining Corporation PLC peers in Gold
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| IDR Idaho Strategic Resources, Inc. | $471.6M | 20.8× | Compare |
| TRX TRX Gold Corporation | $423.5M | 0.0× | Compare |
| GAU Galiano Gold Inc. | $523.2M | 7.4× | Compare |
| CTGO Contango Silver & Gold Inc. | $606.3M | 0.0× | Compare |
| Company | Market cap | P/E | Compare |
|---|---|---|---|
| NFGC New Found Gold Corp. | $670.2M | 0.0× | Compare |
| THM International Tower Hill Mines Ltd | $735.2M | 0.0× | Compare |
| GROY Gold Royalty Corp. | $736.7M | 790× | Compare |
| USAU US Gold Corp | $257.2M | 0.0× | Compare |
Caledonia Mining Corporation PLC (CMCL) key facts
- Caledonia Mining Corporation PLC (CMCL) is a Gold company in the Basic Materials sector, traded in the US as an ADR.
- Caledonia Mining Corporation PLC’s revenue for fiscal 2025 (year ended December 2025) was $267.7 million, up 46.2% from fiscal 2024.
- As of September 25, 2026, CMCL traded at $23.84, a market capitalization of $461.5 million.
- Caledonia Mining Corporation PLC pays an annual dividend of $0.56 per share, a yield of 5.17%, with a payout ratio of 24.2%.
- Return on equity was 21.1% and debt-to-equity 0.36.
Caledonia Mining Corporation PLC (CMCL) Latest News
24 Sep
BlackRock, Inc. notified Caledonia Mining Corp PLC that it crossed the 5% threshold for voting rights at CMCL on 22 September 2026. Direct voting rights: 984,317 shares (5.09%). Indirect via financial instruments: 160,158 (0.82%), and via CFDs: 218,182 (1.12%). Total voting rights: 1,362,657 (7.04% of CMCL). Previous notification: total 7.01%. Notification date: 23 September 2026. Stake held through a chain of BlackRock entities. Crossing a 5% threshold with a 7.04% total stake signals notable but non-controlling influence from a major investor.
23 Sep
Caledonia Mining Corporation Plc says BlackRock, Inc. notified on Sept 22, 2026 that it crossed the AIM threshold for voting rights in CMCL on Sept 21, 2026. Total voting rights reach 7.01%, with 4.94% (955,233 shares) directly and 2.07% through financial instruments (182,058 via securities lending and 218,182 via CFDs). The previous notification stood at 6.98% total (4.90% direct, 2.08% through instruments). The issuer is non-UK. The disclosure includes a chain of controlled BlackRock entities and a TR-1 form. This is a standard regulatory update and does not indicate an immediate change in CMCL operations, but signals increased scrutiny or influence from a major asset manager. BlackRock's crossing of a materials 7% voting-rights threshold signals meaningful governance influence but does not imply control or an immediate operational shift.
22 Sep
BlackRock, Inc. crossed a threshold for notification of a relevant change in Caledonia Mining Corporation PLC (CMCL), achieving a 6.98% total voting-rights stake as of 18 September 2026 (4.90% direct voting rights; 2.08% via financial instruments). The direct holding is 948,042 voting rights (4.90%); instruments add 181,758 via securities lending and 220,454 via CFDs (1.14%), bringing the total to 1,350,254 voting rights. The change triggered a TR-1 notification dated 21 September 2026, filed by BlackRock, Inc. as a non-UK issuer under AIM Rules. The notification lists the chain of BlackRock entities involved. No change in control is indicated; the stake could influence market sentiment and CMCL's investor dynamics. BlackRock's aggregate holding reaches 6.98% of voting rights (4.90% direct, 2.08% via instruments), signaling increased influence without control.
14 Sep
Caledonia Mining Corporation Plc released a Capital Markets Day update covering operational progress, production guidance and long-term growth plans. Capital Markets Day updates typically outline strategic targets that moderately shift investor views and operational expectations.
28 Aug
Caledonia Mining expanded resources at the Blanket mine. The update prompts questions on whether CMCL shares remain undervalued after the increase in reserves. Blanket resource expansion directly lifts reserves and future output potential, altering company trajectory and investor views.
Cavendish sets price target implying 128% upside for Caledonia Mining Corporation PLC after successful deep drilling results at the Blanket mine. Successful Blanket deep drilling results and strong analyst upside target signal major positive shift in company trajectory and investor sentiment.
Caledonia Mining lifts Blanket mineral resource 22% and reports maiden Motapa resource estimate. Resource growth at Blanket plus new Motapa estimate directly expands reserves and supports higher future output.
Caledonia Mining Corporation Plc reports maiden mineral resource estimate at Motapa of 379,000 oz measured and indicated plus 131,000 oz inferred. New resource ounces at Motapa materially expand Caledonia's gold assets and support higher future production outlook.
Caledonia Mining Corporation Plc announced a 22% increase in Blanket Mine underground measured and indicated mineral resources to 2.18 million ounces along with declaration of a surface mineral resource estimate. Resource expansion directly raises asset value and supports higher future output at the company's main operation.
Caledonia Mining reports resource growth at its operations yet CMCL stock continues to trade at levels that suggest it remains undervalued relative to the expanded reserves. Resource growth directly expands reserves and supports higher future production at Caledonia's core mining assets, creating a moderate but not transformative lift to long-term output and valuation.
27 Aug
Caledonia Mining reports expanding resources at Blanket mine, declares maiden resource at Motapa and notes growth in its development pipeline. Resource growth plus new Motapa declaration directly boosts asset base and long-term output prospects for the miner.
17 Aug
Caledonia Mining held Q2 2026 earnings call covering financial results, production figures, costs and operational updates at its Zimbabwe gold mine. Quarterly earnings updates typically move share price and sentiment in the short term without altering long-term strategy.
10 Aug
Caledonia Mining Corporation PLC discussed Q2 financial results, production figures, cost management and operational updates during its earnings call. Quarterly earnings data can moderately shift near-term investor sentiment and valuation metrics.
Caledonia Mining Corporation PLC saw Q2 gold output rise 18 percent, with the CEO crediting the gain to higher ore grades. Q2 production increase of 18 percent from better grades lifts near-term output metrics but does not alter long-term operations or strategy.
Caledonia Mining Corporation PLC reported financial results for the quarter and half year ended June 30, 2026, provided details of a management conference call, and declared a dividend. Quarterly results and dividend declaration moderately affect financial performance and market sentiment.
5 Aug
LVG secured the final land parcel at Imwelo by leveraging community trust, completing acquisition for Caledonia Mining Corporation's project development. Final land parcel unlock at Imwelo directly enables full project advancement and operational start for Caledonia Mining.
24 Jul
Caledonia Mining identifies new ore potential at Blanket mine. Development prompts questions on whether CMCL stock remains undervalued given possible resource expansion. New ore potential at Blanket mine may improve long-term reserves and production capacity.
23 Jul
Caledonia Mining Corporation PLC shares rose 8.2% after discovery of a new gold zone and stronger Q2 output. New gold zone discovery expands reserves while stronger Q2 output lifts near-term production and revenue outlook.
Caledonia Mining Corporation plans to expand output at its Blanket mine by developing a new gold zone. New gold zone addition at Blanket mine will increase production capacity and reserves.
Caledonia Mining reports exploration results from the Blanket mine showing gold intercepts that may expand resources and support future production growth. Blanket mine exploration results point to possible resource expansion with moderate effects on long-term output and valuation.
22 Jul
Caledonia Mining CEO comments on potential new ore body at Blanket Mine. Potential new ore body at Blanket Mine could substantially increase reserves and production outlook.
20 Jul
Caledonia Mining CEO reports improving ore grades and forecasts higher gold production growth in H2. Improving grades and H2 production growth can lift Caledonia Mining output and near-term financial results.
Caledonia Mining Corporation PLC efforts to access higher grades are gaining traction. Gaining traction on higher-grade access supports improved yields and operational efficiency at Caledonia Mining.
14 Jun
High-grade Motapa drilling results and 2026 resource targets may shift the investment case for Caledonia Mining Corporation PLC. High-grade Motapa drilling and 2026 resource targets signal major operational progress likely to alter company trajectory.
13 Jun
Caledonia Mining reports Motapa drill results; analysts set US$42.73 valuation target for CMCL stock. Motapa drill results and valuation estimate may moderately affect CMCL financial performance and investor sentiment.
Caledonia Mining reports drill success at Motapa project while share price remains depressed, weighing positive exploration results against weak market valuation. Motapa drill success offers exploration upside with moderate potential to influence valuation and sentiment.
Caledonia Mining Corporation Plc (CMCL) reported its Q1 2026 financial results. Q1 2026 earnings release delivers core financial data that shapes near-term performance expectations.
Caledonia Mining identifies significant potential for shared infrastructure between Motapa and Bilboes projects. Shared infrastructure potential may improve operational efficiencies at two sites without fundamentally altering company trajectory.
10 Jun
Caledonia Mining CEO reports high-grade results from Motapa project and outlines next steps toward a mineral resources estimate. High-grade Motapa results plus defined path to resource estimate signal material expansion of Caledonia's asset base and future production potential.
Caledonia Mining reports high grade results from exploration at Motapa. High grade results signal potential resource growth and higher future output.