Caledonia Mining stock analysis
Caledonia Mining (CMCL) Share Price & Analysis
CMCL Stock Chart & Stats
- Day’s Range
- GBX 1,554.14 - GBX 1,625.00
- 52-Week Range
- GBX 1,250.00 - GBX 2,500.00
- Previous Close
- GBX 1,587.50
- Volume
- N/A
- Average Volume (3M)
- 2,327
- Market Cap
- GBP 305.04M
- Enterprise Value
- GBP 343.77M
- Total Cash (Recent Filing)
- GBP 171.78M
- Total Debt (Recent Filing)
- GBP 116.86M
- Price to Earnings (P/E)
- 6.0
- Beta
- 1.47
- Next Earnings
- Mar 24, 2027 (Est.)
- EPS Estimate
- 0.11
- Last Dividend Ex-Date
- Aug 20, 2026
- Dividend Yield
- 2.63%
Bulls Say, Bears Say
Bulls Say
Strong Profitability And Cash Generation
The sharp revenue recovery, strong operating margins, and positive cash generation indicate meaningful earnings power from the operating business. Operating cash flow exceeding net income also supports earnings quality, giving Caledonia resources to fund investment, dividends, and mine development.
Bilboes Expansion Platform
Bilboes provides a substantial potential production platform beyond Blanket, with reserves, plant designs, earthworks, and equipment orders already progressing. If execution and financing remain on track, the project could materially increase production scale and extend the company’s growth runway.
Growing Mineral Resource Base
Resource growth strengthens the foundation for sustaining and potentially expanding future production. The larger Blanket underground inventory, together with Motapa’s maiden resource near Bilboes, creates additional exploration and mine-life opportunities within Caledonia’s Zimbabwe operating portfolio.
Bears Say
Production Shortfall And Reduced Guidance
Lower output and reduced annual guidance show that the operation is not yet delivering consistently against expectations. Continued production variability could weaken revenue and cash-flow predictability, while also making it harder to achieve the volume needed to absorb fixed operating and development costs.
Operational And Execution Risk
Multiple operational constraints have affected mining, processing, and project delivery within the same period. These issues increase the risk that planned production improvements or capital projects take longer or cost more, potentially delaying benefits from Blanket, K-Pits, and Bilboes.
Higher Leverage And Earnings Volatility
The step-up in leverage reduces financial flexibility compared with Caledonia’s previous low-debt profile. Combined with past periods of losses and negative free cash flow, it suggests that earnings and funding capacity can remain sensitive to operating performance and the demands of development spending.
Caledonia Mining News
CMCL FAQ
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Caledonia Mining Stock Smart Score
Company Description
Caledonia Mining
Caledonia Mining Corporation Plc primarily operates a gold mine in Jersey. It also engages in the exploration and development of mineral properties for precious metals. The company holds a 64% interest in the Blanket Mine, a gold mine located in Zimbabwe. It also owns 100% interests in the Maligreen project, a brownfield gold exploration project located in the Gweru mining district in the Zimbabwe Midlands; the Bilboes, a gold deposit located to the north of Bulawayo, Zimbabwe; and the Motapa, a gold exploration property located in Southern Zimbabwe. The company was formerly known as Caledonia Mining Corporation and changed its name to Caledonia Mining Corporation Plc in March 2016. Caledonia Mining Corporation Plc was incorporated in 1992 and is headquartered in Saint Helier, Jersey.
- Sector
- Basicmaterials
- Industry
- Gold
- CEO
- John Mark Learmonth
- Employees
- 2,357
- Website
- www.caledoniamining.com
- Address
- 2 Mulcaster Street, Saint Helier, JE, JE2 3NJ, JE
Caledonia Mining (CMCL) Earnings & Revenues
CMCL Company Deck
CMCL Earnings Call
Earnings Call SentimentPositive
The call was broadly optimistic about the company's liquidity, Bilboes development, resource growth, safety performance, and operational recovery initiatives. However, the quarter was challenging, with lower production, reduced full-year guidance, higher cost metrics, metallurgical issues, and a significant noncash derivative loss. Management expressed confidence in delivering a strong fourth quarter and described the outlook for 2027 as very attractive.
View all GB:CMCL earnings summariesCMCL Stock 12 Month Forecast
Average Price Target
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 6 | 11 |
| Technical Analysis | 1 | 6 | 3 |
| Moving Averages | 4 | 0 | 8 |









