Caledonia Mining Corporation PLC (CMCL) vs GoldMining Inc. (GLDG)

Caledonia Mining Corporation PLC and GoldMining Inc. are both Gold companies. Caledonia Mining Corporation PLC is the larger, with a market value of $461.5M against $211.3M — 2.2× the size. GoldMining Inc. 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 −13.4%). Across the 15 metrics below, Caledonia Mining Corporation PLC leads on 12 and GoldMining Inc. on 3.

Valuation

Metric CMCL GLDG Gold median
P/E 5.97 n/m 23.34
P/S 1.50 n/m 5.02
P/B 1.29 1.25 3.53
Price to free cash flow 8.07 n/m 16.73
EV/EBITDA 2.85 n/m 8.34
EV/Sales 1.28 n/m 4.92
Earnings yield 16.74% (8.25%) 1.44%
Free cash flow yield 12.39% (9.78%) 0.75%

Profitability

Metric CMCL GLDG Gold median
Gross margin 50.86% 0.00% 50.00%
Operating margin 48.95% 0.00% 26.32%
Net margin 26.97% 0.00% 12.30%
Free cash flow margin 18.53% 0.00% 0.00%
Return on equity 25.72% (12.31%) 6.36%
Return on assets 15.82% (11.70%) 0.00%
Return on invested capital 32.26% (13.39%) 0.52%

Growth

Metric CMCL GLDG Gold median
Revenue growth (TTM) 39.08% — 68.15%
EPS growth (last fiscal year) 210.99% 50.00% —
Revenue growth, 5-year CAGR 21.76% — 16.12%
Net income growth, 5-year CAGR 21.86% 0.00% 0.00%

Health

Metric CMCL GLDG Gold median
Debt to equity 0.36 0.00 0.10
Current ratio 5.73 39.65 3.08
Net debt to EBITDA (0.14) 1.01 0.00

Dividend

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

Size

Metric CMCL GLDG Gold median
Market cap 461.53m 211.32m 1.96b

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