Overview Dividends

(CMCL) Caledonia Mining - Ratings and Ratios

Exchange: NYSE MKT • Country: Jersey • Currency: USD • Type: Common Stock • ISIN: JE00BF0XVB15

Gold, Exploration, Mining, Development

EPS (Earnings per Share)

EPS (Earnings per Share) of CMCL over the last years for every Quarter: "2020-09": 0.29, "2020-12": 0.75, "2021-03": 0.516, "2021-06": 0.626, "2021-09": 0.689, "2021-12": 0.421, "2022-03": 0.14, "2022-06": 0.75, "2022-09": 0.607, "2022-12": 0.41, "2023-03": -0.291, "2023-06": 0.1, "2023-09": 0.33, "2023-12": -0.1693, "2024-03": 0.111, "2024-06": 0.4391, "2024-09": 0.118, "2024-12": 0.297, "2025-03": 0.3044, "2025-06": 1.14, "2025-09": 0.77,
EPS CAGR: 25.76%
EPS Trend: 62.6%
Last SUE: 0.12σ
Qual. Beats: 0

Revenue

Revenue of CMCL over the last years for every Quarter: 2020-09: 24.088, 2020-12: 28.128, 2021-03: 25.72, 2021-06: 29.977, 2021-09: 33.496, 2021-12: 32.136, 2022-03: 33.314, 2022-06: 36.992, 2022-09: 34.044, 2022-12: 34.178, 2023-03: 29.435, 2023-06: 37.031, 2023-09: 41.187, 2023-12: 38.661, 2024-03: 36.594, 2024-06: 50.107, 2024-09: 46.868, 2024-12: 45.083, 2025-03: 56.178, 2025-06: 65.309, 2025-09: 71.44,
Revenue CAGR: 30.75%
Revenue Trend: 92.5%
Last SUE: 0.27σ
Qual. Beats: 0
Risk via 10d forecast
Volatility 51.4%
Value at Risk 5%th 84.1%
Relative Tail Risk -0.51%
Reward TTM
Sharpe Ratio 1.93
Alpha 160.39
Character TTM
Hurst Exponent 0.431
Beta 0.319
Beta Downside 0.065
Drawdowns 3y
Max DD 45.27%
Mean DD 23.33%
Median DD 27.25%

Description: CMCL Caledonia Mining October 27, 2025

Caledonia Mining Corp Plc (CMCL) is a Jersey-incorporated gold miner that holds a 64% interest in the Blanket Mine in Zimbabwe and 100% ownership of several brownfield exploration projects-Maligreen, Bilboes and Motapa-also located in Zimbabwe’s Midlands and southern districts. The company, founded in 1992 and renamed in 2016, focuses on operating the Blanket Mine while advancing its exploration pipeline.

In FY 2023 the Blanket Mine produced roughly 200,000 oz of gold at an all-in cash cost of about $950 /oz, and Caledonia reported proven and probable reserves of ~1.2 million oz, implying a reserve-life-of-mine of over six years at current output. Key economic drivers include Zimbabwe’s foreign-exchange and political risk environment, which can affect cost and cash flow, and the broader gold market, where persistent inflation concerns and central-bank buying have kept spot prices above $2,000 /oz in 2024.

For a deeper, data-driven dive into CMCL’s valuation metrics and scenario analysis, check out the detailed profile on ValueRay.

CMCL Stock Overview

Market Cap in USD 524m
Sub-Industry Gold
IPO / Inception 2017-06-29
Return 12m vs S&P 500 151%
Analyst Rating 4.0 of 5

CMCL Dividends

Metric Value
Dividend Yield 1.99%
Yield on Cost 5y 4.64%
Yield CAGR 5y 13.71%
Payout Consistency 97.8%
Payout Ratio 22.3%

CMCL Growth Ratios

Metric Value
CAGR 3y 44.46%
CAGR/Max DD Calmar Ratio 0.98
CAGR/Mean DD Pain Ratio 1.91
Current Volume 126.1k
Average Volume 271.4k

Piotroski VR‑10 (Strict, 0-10) 8.0

Net Income (50.4m TTM) > 0 and > 6% of Revenue (6% = 14.3m TTM)
FCFTA 0.08 (>2.0%) and ΔFCFTA 6.79pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue 16.21% (prev 10.66%; Δ 5.54pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.17 (>3.0%) and CFO 67.8m > Net Income 50.4m (YES >=105%, WARN >=100%)
Net Debt (8.13m) to EBITDA (113.3m) ratio: 0.07 <= 3.0 (WARN <= 3.5)
Current Ratio 1.78 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (19.3m) change vs 12m ago 2.31% (target <= -2.0% for YES)
Gross Margin 49.79% (prev 40.93%; Δ 8.86pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 64.95% (prev 50.71%; Δ 14.24pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio 30.86 (EBITDA TTM 113.3m / Interest Expense TTM 3.16m) >= 6 (WARN >= 3)

Altman Z'' 4.25

(A) 0.10 = (Total Current Assets 88.1m - Total Current Liabilities 49.5m) / Total Assets 393.3m
(B) -0.14 = Retained Earnings (Balance) -53.6m / Total Assets 393.3m
(C) 0.27 = EBIT TTM 97.5m / Avg Total Assets 366.5m
(D) 2.15 = Book Value of Equity 251.5m / Total Liabilities 116.8m
Total Rating: 4.25 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 88.57

1. Piotroski 8.0pt
2. FCF Yield 5.85%
3. FCF Margin 13.06%
4. Debt/Equity 0.09
5. Debt/Ebitda 0.07
6. ROIC - WACC (= 24.45)%
7. RoE 21.81%
8. Rev. Trend 92.48%
9. EPS Trend 62.65%

What is the price of CMCL shares?

As of November 25, 2025, the stock is trading at USD 28.20 with a total of 126,133 shares traded.
Over the past week, the price has changed by -1.88%, over one month by -10.64%, over three months by +16.27% and over the past year by +184.23%.

Is CMCL a buy, sell or hold?

Caledonia Mining has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy CMCL.
  • Strong Buy: 0
  • Buy: 2
  • Hold: 0
  • Sell: 0
  • Strong Sell: 0

What are the forecasts/targets for the CMCL price?

Issuer Target Up/Down from current
Wallstreet Target Price 39 38.3%
Analysts Target Price 39 38.3%
ValueRay Target Price 33.5 18.6%

CMCL Fundamental Data Overview November 22, 2025

Market Cap USD = 523.5m (523.5m USD * 1.0 USD.USD)
P/E Trailing = 10.5938
P/E Forward = 8.8574
P/S = 2.2938
P/B = 2.1659
Beta = 0.494
Revenue TTM = 238.0m USD
EBIT TTM = 97.5m USD
EBITDA TTM = 113.3m USD
Long Term Debt = 3.77m USD (from longTermDebt, last quarter)
Short Term Debt = 19.1m USD (from shortTermDebt, last quarter)
Debt = 23.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 8.13m USD (from netDebt column, last quarter)
Enterprise Value = 531.7m USD (523.5m + Debt 23.8m - CCE 15.7m)
Interest Coverage Ratio = 30.86 (Ebit TTM 97.5m / Interest Expense TTM 3.16m)
FCF Yield = 5.85% (FCF TTM 31.1m / Enterprise Value 531.7m)
FCF Margin = 13.06% (FCF TTM 31.1m / Revenue TTM 238.0m)
Net Margin = 21.17% (Net Income TTM 50.4m / Revenue TTM 238.0m)
Gross Margin = 49.79% ((Revenue TTM 238.0m - Cost of Revenue TTM 119.5m) / Revenue TTM)
Gross Margin QoQ = 51.58% (prev 51.76%)
Tobins Q-Ratio = 1.35 (Enterprise Value 531.7m / Total Assets 393.3m)
Interest Expense / Debt = 3.66% (Interest Expense 870.0k / Debt 23.8m)
Taxrate = 35.35% (10.2m / 28.9m)
NOPAT = 63.0m (EBIT 97.5m * (1 - 35.35%))
Current Ratio = 1.78 (Total Current Assets 88.1m / Total Current Liabilities 49.5m)
Debt / Equity = 0.09 (Debt 23.8m / totalStockholderEquity, last quarter 251.5m)
Debt / EBITDA = 0.07 (Net Debt 8.13m / EBITDA 113.3m)
Debt / FCF = 0.26 (Net Debt 8.13m / FCF TTM 31.1m)
Total Stockholder Equity = 231.0m (last 4 quarters mean from totalStockholderEquity)
RoA = 12.81% (Net Income 50.4m / Total Assets 393.3m)
RoE = 21.81% (Net Income TTM 50.4m / Total Stockholder Equity 231.0m)
RoCE = 41.52% (EBIT 97.5m / Capital Employed (Equity 231.0m + L.T.Debt 3.77m))
RoIC = 31.43% (NOPAT 63.0m / Invested Capital 200.5m)
WACC = 6.98% (E(523.5m)/V(547.3m) * Re(7.19%) + D(23.8m)/V(547.3m) * Rd(3.66%) * (1-Tc(0.35)))
Discount Rate = 7.19% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
Shares Correlation 3-Years: 100.0 | Cagr: 1.72%
[DCF Debug] Terminal Value 81.43% ; FCFE base≈20.2m ; Y1≈24.9m ; Y5≈42.5m
Fair Price DCF = 37.41 (DCF Value 722.2m / Shares Outstanding 19.3m; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: 62.65 | EPS CAGR: 25.76% | SUE: 0.12 | # QB: 0
Revenue Correlation: 92.48 | Revenue CAGR: 30.75% | SUE: 0.27 | # QB: 0

Additional Sources for CMCL Stock

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