Caledonia Mining (CMCL)

Business description

Caledonia Mining mines gold at its main operating asset, the 49%-owned Blanket gold mine in southern Zimbabwe. It is also progressing its understanding of a number of promising satellite projects close to Blanket.

Stock data

Market cap.£54.1m
Last close102.50p
High / Low (52 weeks)143.0p / 68.5p
Stock market listingLN, CN
Forecast net cash (US$m)18.5
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual5.7(10.5)49.6
Relative *6.0(11.8)25.6

* % Relative to local index

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Company news

Caledonia Mining Corporation Plc Attractive cash returns and Proposed Listing ...

Wed, 24 May 2017 06:11:15 GMT

CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) - Receive News & Ratings Daily

Tue, 30 May 2017 15:33:45 GMT

Scheer Rowlett & Associates Investment Management LTD Has Upped Agrium (AGU ...

Wed, 21 Jun 2017 18:22:30 GMT

Perritt Capital Management Has Trimmed By $2.35 Million Its Addus Homecare ...

Tue, 20 Jun 2017 17:48:45 GMT

Are Analysts Bullish about CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI ...

Wed, 07 Jun 2017 10:30:00 GMT

Investment summary

Caledonia reported a record year in FY16, in which it beat its own production target of 50kozpa by 0.4koz, at a cash cost of US$636/oz. After initially providing guidance of 60koz of production in FY17, in the aftermath of a 1koz shortfall in Q1, management has now moderated its expectation to 52-57koz, in order to maintain a healthy balance between development tonnes and production tonnes. Short-term financial forecasts are under review.

Last updated on 01/06/2017

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 49.0 9.0 5.1 8.1 16.4 8.3
2016A 62.0 23.3 19.6 21.4 6.2 2.7
2017E 76.2 29.6 26.0 35.6 3.7 2.5
2018E 81.9 31.7 26.8 29.8 4.5 2.4

Last updated on 24/05/2017

Latest video

Executive Interview - Caledonia Mining

Industry outlook

Investment continues at Blanket to raise production to 80kozpa by 2021. Another US$18m is due to be spent in 2017 before dropping off sharply thereafter. The central shaft is on track and on budget for completion in mid-2018 and is more than two-thirds complete. In the meantime, CMCL carried a sound cash balance of US$11.9m at the end of March 2017. On company guidance, CMCL is trading on a P/E of 4.5x FY17 and a dividend yield of 4.4%. Management has proposed listing CMCL on the NYSE after a 5:1 consolidation. The company's AGM is scheduled for 19 June.

Last updated on 01/06/2017

Key management

Carl Jonsson, Chairman
Stefan Hayden, CEO
Steve Curtis, CFO
Maurice Mason , Head of IR

Company address

Suite 4009
1 King Street West
Toronto
Ontario
M5H 1A1
Canada
+1 (416) 369-9835
View website