Blue Gold Limited (BGL) vs Caledonia Mining Corporation PLC (CMCL)

Blue Gold Limited and Caledonia Mining Corporation PLC are both Gold companies. Caledonia Mining Corporation PLC is the larger, with a market value of $461.5M against $9.2M — 50.4× the size. Blue Gold Limited has negative trailing earnings, so its P/E is not meaningful; Caledonia Mining Corporation PLC trades at 6.0×. Caledonia Mining Corporation PLC has the higher net margin (27.0% vs 0.00%) and the higher return on invested capital (32.3% vs 0.00%). Across the 12 metrics below, Caledonia Mining Corporation PLC leads on 10 and Blue Gold Limited on 2.

Valuation

Metric BGL CMCL Gold median
P/E n/m 5.97 23.34
P/S n/m 1.50 5.02
P/B n/m 1.29 3.53
Price to free cash flow n/m 8.07 16.73
EV/EBITDA n/m 2.85 8.34
EV/Sales n/m 1.28 4.92
Earnings yield (600.71%) 16.74% 1.44%
Free cash flow yield (321.81%) 12.39% 0.75%

Profitability

Metric BGL CMCL Gold median
Gross margin — 50.86% 50.00%
Operating margin 0.00% 48.95% 26.32%
Net margin 0.00% 26.97% 12.30%
Free cash flow margin 0.00% 18.53% 0.00%
Return on equity 236.17% 25.72% 6.36%
Return on assets (26.74%) 15.82% 0.00%
Return on invested capital 0.00% 32.26% 0.52%

Growth

Metric BGL CMCL Gold median
Revenue growth (TTM) — 39.08% 68.15%
EPS growth (last fiscal year) (23.66%) 210.99% —
Revenue growth, 5-year CAGR — 21.76% 16.12%
Net income growth, 5-year CAGR — 21.86% 0.00%

Health

Metric BGL CMCL Gold median
Debt to equity 0.00 0.36 0.10
Current ratio 0.05 5.73 3.08
Net debt to EBITDA 0.04 (0.14) 0.00

Dividend

Metric BGL CMCL Gold median
Dividend yield — 5.17% 1.49%
Payout ratio 0.00 0.24 0.00

Size

Metric BGL CMCL Gold median
Market cap 9.15m 461.53m 1.96b

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