Caledonia Mining share price today
Caledonia Mining Corporation Plc · CMCL · Materials · Gold · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists
Caledonia Mining share price: $20.61 at the close on 4 November 2026, −24.6% in a year.
Caledonia Mining Corporation Plc's earnings have grown faster than its share price. Earnings per share grew +210.2% in a year while the price moved −24.6%.
The main question: yearly earnings per share moved +210.2% while the share price moved −24.6%.
The price has been between phases, and the P/E is lower than 90% of its own last 1 year. Over the last four quarters, results have been improving, with profit +16.2% on a year earlier, and 194% of the last 3 years' profit came in as cash. What will decide it: whether the price catches up with earnings that have already grown.
What is the Caledonia Mining share price today?
Caledonia Mining Corporation Plc's share price was $20.61 at the close on 4 November 2026. That is 12.9% below its average price over the last 200 trading days. In the last 52 weeks it traded between $17 and $32, and at that close it sat 25% of the way up from that low.
A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.
Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running.
Nov 2026: $20.61, 12.9% below its 200-day average.
- Price $20.61
- 50-day avg $23.76
- 200-day avg $23.67
| Week | Price | 50-day avg | 200-day avg |
|---|---|---|---|
| 11 Jul 2025 | $20.86 | – | – |
| 18 Jul 2025 | $20.32 | – | – |
| 25 Jul 2025 | $21.61 | – | – |
| 1 Aug 2025 | $19.88 | – | – |
| 8 Aug 2025 | $23.36 | – | – |
| 15 Aug 2025 | $23.08 | – | – |
| 22 Aug 2025 | $25.64 | – | – |
| 29 Aug 2025 | $25.58 | – | – |
| 5 Sep 2025 | $28.41 | – | – |
| 12 Sep 2025 | $33.13 | – | – |
| 19 Sep 2025 | $33.32 | $24.72 | – |
| 26 Sep 2025 | $36.60 | $26.10 | – |
| 3 Oct 2025 | $36.90 | $27.56 | – |
| 10 Oct 2025 | $34.63 | $29.13 | – |
| 17 Oct 2025 | $34.09 | $30.61 | – |
| 24 Oct 2025 | $31.72 | $31.63 | – |
| 31 Oct 2025 | $28.12 | $32.14 | – |
| 7 Nov 2025 | $27.33 | $32.36 | – |
| 14 Nov 2025 | $28.18 | $32.54 | – |
| 21 Nov 2025 | $26.99 | $32.19 | – |
| 28 Nov 2025 | $30.81 | $32.01 | – |
| 5 Dec 2025 | $24.17 | $31.12 | – |
| 12 Dec 2025 | $25.55 | $29.94 | – |
| 19 Dec 2025 | $26.88 | $28.74 | – |
| 26 Dec 2025 | $27.88 | $28.02 | – |
| 2 Jan 2026 | $26.33 | $27.33 | – |
| 9 Jan 2026 | $29.18 | $27.05 | – |
| 16 Jan 2026 | $27.22 | $27.26 | – |
| 23 Jan 2026 | $31.40 | $27.43 | – |
| 30 Jan 2026 | $27.44 | $27.63 | – |
| 6 Feb 2026 | $28.46 | $27.68 | – |
| 13 Feb 2026 | $30.00 | $27.81 | – |
| 20 Feb 2026 | $30.22 | $28.15 | – |
| 27 Feb 2026 | $31.74 | $28.81 | – |
| 6 Mar 2026 | $25.98 | $29.17 | – |
| 13 Mar 2026 | $25.23 | $29.07 | – |
| 20 Mar 2026 | $21.44 | $28.68 | – |
| 27 Mar 2026 | $22.27 | $27.78 | – |
| 2 Apr 2026 | $23.67 | $27.40 | – |
| 10 Apr 2026 | $25.34 | $26.73 | – |
| 17 Apr 2026 | $26.19 | $26.40 | – |
| 24 Apr 2026 | $25.26 | $26.01 | $27.54 |
| 1 May 2026 | $22.62 | $25.46 | $27.60 |
| 8 May 2026 | $23.92 | $24.62 | $27.62 |
| 15 May 2026 | $23.04 | $24.04 | $27.70 |
| 22 May 2026 | $22.80 | $23.74 | $27.75 |
| 29 May 2026 | $23.76 | $23.64 | $27.77 |
| 5 Jun 2026 | $19.95 | $23.53 | $27.71 |
| 12 Jun 2026 | $20.18 | $23.24 | $27.57 |
| 18 Jun 2026 | $20.86 | $22.99 | $27.49 |
| 26 Jun 2026 | $19.81 | $22.45 | $27.27 |
| 2 Jul 2026 | $20.09 | $21.97 | $27.02 |
| 10 Jul 2026 | $17.76 | $21.40 | $26.67 |
| 17 Jul 2026 | $16.98 | $20.88 | $26.22 |
| 24 Jul 2026 | $18.66 | $20.32 | $25.76 |
| 31 Jul 2026 | $18.39 | $19.81 | $25.33 |
| 7 Aug 2026 | $21.75 | $19.51 | $24.92 |
| 14 Aug 2026 | $22.47 | $19.55 | $24.69 |
| 21 Aug 2026 | $24.77 | $19.98 | $24.57 |
| 28 Aug 2026 | $25.63 | $20.46 | $24.52 |
| 4 Sep 2026 | $26.33 | $21.02 | $24.45 |
| 11 Sep 2026 | $25.70 | $21.53 | $24.41 |
| 18 Sep 2026 | $24.11 | $22.06 | $24.30 |
| 25 Sep 2026 | $23.84 | $22.75 | $24.29 |
| 2 Oct 2026 | $24.01 | $23.33 | $24.26 |
| 9 Oct 2026 | $23.75 | $23.89 | $24.24 |
| 16 Oct 2026 | $23.54 | $24.31 | $24.16 |
| 23 Oct 2026 | $21.26 | $24.30 | $24.03 |
| 30 Oct 2026 | $20.25 | $24.07 | $23.78 |
| 4 Nov 2026 | $20.61 | $23.76 | $23.67 |
Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?
Ahead in 25 of 57 weeks
| Week | 13-week return vs S&P 500 |
|---|---|
| 11 Jul 2025 | no S&P 500 reading |
| 18 Jul 2025 | no S&P 500 reading |
| 25 Jul 2025 | no S&P 500 reading |
| 1 Aug 2025 | no S&P 500 reading |
| 8 Aug 2025 | no S&P 500 reading |
| 15 Aug 2025 | no S&P 500 reading |
| 22 Aug 2025 | no S&P 500 reading |
| 29 Aug 2025 | no S&P 500 reading |
| 5 Sep 2025 | no S&P 500 reading |
| 12 Sep 2025 | no S&P 500 reading |
| 19 Sep 2025 | no S&P 500 reading |
| 26 Sep 2025 | no S&P 500 reading |
| 3 Oct 2025 | no S&P 500 reading |
| 10 Oct 2025 | +61.3% |
| 17 Oct 2025 | +61.9% |
| 24 Oct 2025 | +40.5% |
| 31 Oct 2025 | +31.7% |
| 7 Nov 2025 | +11.7% |
| 14 Nov 2025 | +17.7% |
| 21 Nov 2025 | +3.1% |
| 28 Nov 2025 | +14.5% |
| 5 Dec 2025 | −20.9% |
| 12 Dec 2025 | −26.6% |
| 19 Dec 2025 | −21.9% |
| 26 Dec 2025 | −28.1% |
| 2 Jan 2026 | −30.7% |
| 9 Jan 2026 | −22.0% |
| 16 Jan 2026 | −24.3% |
| 23 Jan 2026 | −2.8% |
| 30 Jan 2026 | −3.9% |
| 6 Feb 2026 | +1.2% |
| 13 Feb 2026 | +5.0% |
| 20 Feb 2026 | +7.4% |
| 27 Feb 2026 | +2.6% |
| 6 Mar 2026 | +9.4% |
| 13 Mar 2026 | +1.6% |
| 20 Mar 2026 | −15.5% |
| 27 Mar 2026 | −12.0% |
| 2 Apr 2026 | −6.1% |
| 10 Apr 2026 | −11.1% |
| 17 Apr 2026 | −6.5% |
| 24 Apr 2026 | −23.1% |
| 1 May 2026 | −21.7% |
| 8 May 2026 | −22.8% |
| 15 May 2026 | −31.6% |
| 22 May 2026 | −32.7% |
| 29 May 2026 | −35.4% |
| 5 Jun 2026 | −32.9% |
| 12 Jun 2026 | −32.0% |
| 18 Jun 2026 | −17.8% |
| 26 Jun 2026 | −26.0% |
| 2 Jul 2026 | −28.7% |
| 10 Jul 2026 | −41.0% |
| 17 Jul 2026 | −39.8% |
| 24 Jul 2026 | −29.6% |
| 31 Jul 2026 | −22.4% |
| 7 Aug 2026 | −13.9% |
| 14 Aug 2026 | −7.5% |
| 21 Aug 2026 | +5.9% |
| 28 Aug 2026 | +6.2% |
| 4 Sep 2026 | +27.6% |
| 11 Sep 2026 | +24.3% |
| 18 Sep 2026 | +13.6% |
| 25 Sep 2026 | +14.5% |
| 2 Oct 2026 | +16.2% |
| 9 Oct 2026 | +30.6% |
| 16 Oct 2026 | +35.9% |
| 23 Oct 2026 | +11.1% |
| 30 Oct 2026 | +9.0% |
| 4 Nov 2026 | −4.4% |
Over the last 1 year the share price moved −1% while the S&P 500 moved +23%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.
This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.
What dividend does Caledonia Mining pay?
Caledonia Mining Corporation Plc paid $0.56 per share over the last four reported quarters. The most recent declaration was $0.14 for Jun 2026. At today's price of $20.61 that is a yield of 2.72%, based on dividends already paid, not a forecast.
A dividend is cash paid out for each share. The 12-month total is the four most recent quarters added together.
Dividend per share each quarter: latest $0.14 (Jun 2026)
- Dividend per share $0.14
| Quarter | Dividend per share |
|---|---|
| Sep 2023 | $0.14 |
| Dec 2023 | $0.14 |
| Mar 2024 | $0.14 |
| Jun 2024 | $0.14 |
| Sep 2024 | $0.14 |
| Dec 2024 | $0.14 |
| Mar 2025 | $0.14 |
| Jun 2025 | $0.14 |
| Sep 2025 | $0.14 |
| Dec 2025 | $0.14 |
| Mar 2026 | $0.14 |
| Jun 2026 | $0.14 |
Which stock lists is Caledonia Mining on?
Caledonia Mining is not in the Nasdaq 100, the S&P 500 or the Dow Jones 30, and is not on the US tech stocks list.
Is Caledonia Mining profitable?
Caledonia Mining Corporation Plc earned $23.8 M of net profit in the Jun 2026 quarter, +16.2% on the same quarter a year earlier. That is the 6th quarter in a row of profit growth. Full-year FY25 profit was $54.5 M. Over 4 years profit has grown 31.8% a year on average. That is 33.1% of the quarter's revenue.
Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.
The same quarter a year earlier earned $20.5 M. 1 of the last 12 reported quarters were loss-making.
For the full year, FY25 profit was $54.5 M (+211.4% on the year before).
FY25 profit $54.5 M (+211.4% on the year before), 31.8% a year over 4 years
- Net profit $54.5 M
| Quarter | Net profit |
|---|---|
| FY21 | $18.1 M |
| FY22 | $15.2 M |
| FY23 | $10.9 M |
| FY23 | −$8.1 M |
| FY24 | $17.5 M |
| FY25 | $54.5 M |
Growth on a year earlier
- Growth on a year earlier 211.4%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | −16% |
| FY23 | −28.4% |
| FY23 | −174.7% |
| FY24 | – |
| FY25 | 211.4% |
Jun 2026: $23.8 M (+16.2% on a year earlier), the 6th quarter in a row of growth
- Net profit (quarterly) $23.8 M
| Quarter | Net profit (quarterly) |
|---|---|
| Sep 2023 | $4.3 M |
| Dec 2023 | −$6.9 M |
| Mar 2024 | $1.4 M |
| Jun 2024 | $8.1 M |
| Sep 2024 | $2.3 M |
| Dec 2024 | $4.9 M |
| Mar 2025 | $8.6 M |
| Jun 2025 | $20.5 M |
| Sep 2025 | $15.1 M |
| Dec 2025 | $10.0 M |
| Mar 2026 | $15.9 M |
| Jun 2026 | $23.8 M |
Growth on a year earlier
- Growth on a year earlier 16.2%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | – |
| Jun 2024 | – |
| Sep 2024 | −46.6% |
| Dec 2024 | – |
| Mar 2025 | 513.7% |
| Jun 2025 | 153.6% |
| Sep 2025 | 554.8% |
| Dec 2025 | 102.8% |
| Mar 2026 | 84.9% |
| Jun 2026 | 16.2% |
Why profit moved: revenue changed +16.5% on a year earlier and the margin moved +15.8 percentage points. Most of the change came from keeping more of each sale.
On average over the last four quarters, profit changed +189.7% and revenue +35.2%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra dollar of revenue adds more to profit.
How much revenue does Caledonia Mining make, and is it growing?
Caledonia Mining Corporation Plc reported $72.0 M of revenue in the Jun 2026 quarter, +16.5% on the same quarter a year earlier. That is the 10th quarter in a row with growth on the year before. Over 4 years it has grown 21.9% a year on average. The last full year, FY25, came in at $254 M.
Revenue is everything the company billed its customers in the period.
The last four reported quarters add to $272 M.
The quarterly figures for FY22 do not add up to the full-year total on file, so those quarters are left out of the charts and sums.
FY25 revenue was $254 M, +46.3% on the year before.
FY25 revenue $254 M (+46.3% on the year before), 21.9% a year over 4 years
- Revenue $254 M
| Quarter | Revenue |
|---|---|
| FY21 | $115 M |
| FY22 | $142 M |
| FY23 | $135 M |
| FY23 | $139 M |
| FY24 | $174 M |
| FY25 | $254 M |
Growth on a year earlier
- Growth on a year earlier 46.3%
| Quarter | Growth on a year earlier |
|---|---|
| FY21 | – |
| FY22 | 23.3% |
| FY23 | −5% |
| FY23 | 2.8% |
| FY24 | 25.3% |
| FY25 | 46.3% |
Jun 2026: $72.0 M (+16.5% on a year earlier), the 10th quarter in a row of growth
- Revenue (quarterly) $72.0 M
| Quarter | Revenue (quarterly) |
|---|---|
| Sep 2023 | $39.0 M |
| Dec 2023 | $36.7 M |
| Mar 2024 | $36.6 M |
| Jun 2024 | $47.6 M |
| Sep 2024 | $44.4 M |
| Dec 2024 | $45.1 M |
| Mar 2025 | $53.4 M |
| Jun 2025 | $61.8 M |
| Sep 2025 | $68.0 M |
| Dec 2025 | $71.0 M |
| Mar 2026 | $60.8 M |
| Jun 2026 | $72.0 M |
Growth on a year earlier
- Growth on a year earlier 16.5%
| Quarter | Growth on a year earlier |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | 30.9% |
| Jun 2024 | 35.8% |
| Sep 2024 | 14% |
| Dec 2024 | 22.9% |
| Mar 2025 | 45.9% |
| Jun 2025 | 29.7% |
| Sep 2025 | 52.9% |
| Dec 2025 | 57.4% |
| Mar 2026 | 13.9% |
| Jun 2026 | 16.5% |
Recent pace: the last four quarters grew +35.2% on average, against 21.9% a year over the longer run, so this year is growing faster than its own long-run rate.
Is growth speeding up? Revenue over the last 12 months grew +32.7%, against +30.4% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +78.4%, against +205.8% a year (rolling over).
How much of every $100 of sales does Caledonia Mining keep?
Caledonia Mining Corporation Plc's operating margin was 61.0% in the Jun 2026 quarter, 15.8 percentage points higher than the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 6 years it has been between 13.3% and 41.0%. The latest quarter is above every full year in that period.
Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.
Across 6 years it has been between 13.3% and 41.0%, and FY25's 41.0% is the highest of them.
Why the margin moved: operating margin changed +15.8 percentage points on the year while gross margin changed −1.1 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.
As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead.
FY25: 41.0%, the highest in a range of 13.3% to 41.0% over 6 years
- Operating margin 41.0%
| Quarter | Operating margin |
|---|---|
| FY21 | 32.9% |
| FY22 | 21.2% |
| FY23 | 33.4% |
| FY23 | 13.3% |
| FY24 | 31.2% |
| FY25 | 41% |
Change on the year before (points)
- Change on the year before (points) +9.8 pts
| Quarter | Change on the year before (points) |
|---|---|
| FY21 | – |
| FY22 | −11.7 pts |
| FY23 | +12.2 pts |
| FY23 | −20.1 pts |
| FY24 | +17.9 pts |
| FY25 | +9.8 pts |
Jun 2026: operating margin 61.0% (+15.8 points on a year earlier)
- Operating margin 61.0%
| Quarter | Operating margin |
|---|---|
| Sep 2023 | 26.3% |
| Dec 2023 | 8.1% |
| Mar 2024 | 27.4% |
| Jun 2024 | 38.4% |
| Sep 2024 | 26.6% |
| Dec 2024 | 26.6% |
| Mar 2025 | 36.9% |
| Jun 2025 | 45.2% |
| Sep 2025 | 44.4% |
| Dec 2025 | 36.8% |
| Mar 2026 | 48.7% |
| Jun 2026 | 61% |
Change on a year earlier (points)
- Change on a year earlier (points) +15.8 pts
| Quarter | Change on a year earlier (points) |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | +33.1 pts |
| Jun 2024 | +20.7 pts |
| Sep 2024 | +0.3 pts |
| Dec 2024 | +18.5 pts |
| Mar 2025 | +9.5 pts |
| Jun 2025 | +6.8 pts |
| Sep 2025 | +17.8 pts |
| Dec 2025 | +10.2 pts |
| Mar 2026 | +11.8 pts |
| Jun 2026 | +15.8 pts |
Is Caledonia Mining's profit turning into cash?
Over the last 3 years, 194% of Caledonia Mining Corporation Plc's reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $76.2 M of operating cash against $54.5 M of profit. After $36.1 M of spending on assets, $40.1 M was left over as free cash.
The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.
Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.
FY25: operating cash $76.2 M against profit $54.5 M; 194% of 3 years' profit came in as cash
- Operating cash $76.2 M
- Net profit $54.5 M
- Free cash $40.1 M
| Quarter | Operating cash | Net profit | Free cash |
|---|---|---|---|
| FY21 | $30.9 M | $18.1 M | −$6.9 M |
| FY22 | $42.6 M | $15.2 M | $1.1 M |
| FY23 | $42.6 M | $10.9 M | −$1.5 M |
| FY23 | $14.8 M | −$8.1 M | −$15.6 M |
| FY24 | $42.0 M | $17.5 M | $10.6 M |
| FY25 | $76.2 M | $54.5 M | $40.1 M |
Jun 2026: operating cash $28.4 M = 119% of the quarter's profit
- Operating cash (quarterly) $28.4 M
| Quarter | Operating cash (quarterly) |
|---|---|
| Sep 2023 | $14.5 M |
| Dec 2023 | $3.4 M |
| Mar 2024 | $4.9 M |
| Jun 2024 | $19.1 M |
| Sep 2024 | $4.6 M |
| Dec 2024 | $13.4 M |
| Mar 2025 | $13.3 M |
| Jun 2025 | $28.1 M |
| Sep 2025 | $13.7 M |
| Dec 2025 | $21.3 M |
| Mar 2026 | $18.9 M |
| Jun 2026 | $28.4 M |
Operating cash as % of profit
- Operating cash as % of profit 119%
| Quarter | Operating cash as % of profit |
|---|---|
| Sep 2023 | 335% |
| Dec 2023 | – |
| Mar 2024 | 350% |
| Jun 2024 | 236% |
| Sep 2024 | 199% |
| Dec 2024 | 271% |
| Mar 2025 | 156% |
| Jun 2025 | 137% |
| Sep 2025 | 91% |
| Dec 2025 | 212% |
| Mar 2026 | 119% |
| Jun 2026 | 119% |
Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.
What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.
Where does Caledonia Mining's cash go?
Caledonia Mining Corporation Plc does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $97.8 M on assets over the last 3 years. Averaged over those years that is 12.8% of FY25 revenue a year.
Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.
Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.
Spending on assets: $97.8 M over the last 3 years.
FY25: capex $36.1 M, steady spending
- Capex $36.1 M
| Quarter | Capex |
|---|---|
| FY21 | $37.8 M |
| FY22 | $41.5 M |
| FY23 | $44.1 M |
| FY23 | $30.4 M |
| FY24 | $31.3 M |
| FY25 | $36.1 M |
Jun 2026: capex $11.0 M in the quarter
- Capex (quarterly) $11.0 M
| Quarter | Capex (quarterly) |
|---|---|
| Sep 2023 | $10.2 M |
| Dec 2023 | $9.3 M |
| Mar 2024 | $4.2 M |
| Jun 2024 | $7.6 M |
| Sep 2024 | $7.0 M |
| Dec 2024 | $12.5 M |
| Mar 2025 | $8.5 M |
| Jun 2025 | $12.3 M |
| Sep 2025 | $7.8 M |
| Dec 2025 | $7.5 M |
| Mar 2026 | $6.6 M |
| Jun 2026 | $11.0 M |
Free cash
- Free cash $17.4 M
| Quarter | Free cash |
|---|---|
| Sep 2023 | $4.3 M |
| Dec 2023 | −$6.0 M |
| Mar 2024 | $0.7 M |
| Jun 2024 | $11.5 M |
| Sep 2024 | −$2.4 M |
| Dec 2024 | $0.9 M |
| Mar 2025 | $4.9 M |
| Jun 2025 | $15.7 M |
| Sep 2025 | $5.9 M |
| Dec 2025 | $13.8 M |
| Mar 2026 | $12.3 M |
| Jun 2026 | $17.4 M |
In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.
What is Caledonia Mining's P/E ratio, and how does it compare with its own history?
Caledonia Mining Corporation Plc's P/E is 5.9×, near the low end of its own history: it has been lower only 10% of the time. Its usual P/E (the middle reading) is 9.1×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.
P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.
Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks.
P/E 5.9× against a usual 9.1×: near the low end of its own history: it has been lower only 10% of the time
- P/E 5.93×
- Median 9.06×
| Week | P/E | Median |
|---|---|---|
| 11 Jul 2025 | 11.1× | 9.06× |
| 18 Jul 2025 | 10.8× | 9.06× |
| 25 Jul 2025 | 11.5× | 9.06× |
| 1 Aug 2025 | 10.6× | 9.06× |
| 8 Aug 2025 | 12.4× | 9.06× |
| 15 Aug 2025 | 12.3× | 9.06× |
| 22 Aug 2025 | 13.7× | 9.06× |
| 29 Aug 2025 | 13.6× | 9.06× |
| 5 Sep 2025 | 15.1× | 9.06× |
| 12 Sep 2025 | 17.7× | 9.06× |
| 19 Sep 2025 | 17.8× | 9.06× |
| 26 Sep 2025 | 17.8× | 9.06× |
| 3 Oct 2025 | 14.6× | 9.06× |
| 10 Oct 2025 | 13.7× | 9.06× |
| 17 Oct 2025 | 13.5× | 9.06× |
| 24 Oct 2025 | 12.6× | 9.06× |
| 31 Oct 2025 | 11.1× | 9.06× |
| 7 Nov 2025 | 10.8× | 9.06× |
| 14 Nov 2025 | 11.2× | 9.06× |
| 21 Nov 2025 | 10.7× | 9.06× |
| 28 Nov 2025 | 12.2× | 9.06× |
| 5 Dec 2025 | 9.57× | 9.06× |
| 12 Dec 2025 | 10.1× | 9.06× |
| 19 Dec 2025 | 10.6× | 9.06× |
| 26 Dec 2025 | 11.0× | 9.06× |
| 2 Jan 2026 | 9.32× | 9.06× |
| 9 Jan 2026 | 10.3× | 9.06× |
| 16 Jan 2026 | 9.64× | 9.06× |
| 23 Jan 2026 | 11.1× | 9.06× |
| 30 Jan 2026 | 9.72× | 9.06× |
| 6 Feb 2026 | 10.1× | 9.06× |
| 13 Feb 2026 | 10.6× | 9.06× |
| 20 Feb 2026 | 10.7× | 9.06× |
| 27 Feb 2026 | 11.2× | 9.06× |
| 6 Mar 2026 | 9.20× | 9.06× |
| 13 Mar 2026 | 8.93× | 9.06× |
| 20 Mar 2026 | 7.59× | 9.06× |
| 27 Mar 2026 | 7.89× | 9.06× |
| 2 Apr 2026 | 7.45× | 9.06× |
| 10 Apr 2026 | 7.97× | 9.06× |
| 17 Apr 2026 | 8.24× | 9.06× |
| 24 Apr 2026 | 7.95× | 9.06× |
| 1 May 2026 | 7.12× | 9.06× |
| 8 May 2026 | 7.53× | 9.06× |
| 15 May 2026 | 7.25× | 9.06× |
| 22 May 2026 | 7.17× | 9.06× |
| 29 May 2026 | 7.48× | 9.06× |
| 5 Jun 2026 | 6.28× | 9.06× |
| 12 Jun 2026 | 6.35× | 9.06× |
| 18 Jun 2026 | 6.56× | 9.06× |
| 26 Jun 2026 | 6.23× | 9.06× |
| 2 Jul 2026 | 5.78× | 9.06× |
| 10 Jul 2026 | 5.11× | 9.06× |
| 17 Jul 2026 | 4.88× | 9.06× |
| 24 Jul 2026 | 5.37× | 9.06× |
| 31 Jul 2026 | 5.29× | 9.06× |
| 7 Aug 2026 | 6.25× | 9.06× |
| 14 Aug 2026 | 6.46× | 9.06× |
| 21 Aug 2026 | 7.12× | 9.06× |
| 28 Aug 2026 | 7.37× | 9.06× |
| 4 Sep 2026 | 7.57× | 9.06× |
| 11 Sep 2026 | 7.39× | 9.06× |
| 18 Sep 2026 | 6.93× | 9.06× |
| 25 Sep 2026 | 6.85× | 9.06× |
| 2 Oct 2026 | 6.90× | 9.06× |
| 9 Oct 2026 | 6.83× | 9.06× |
| 16 Oct 2026 | 6.77× | 9.06× |
| 23 Oct 2026 | 6.11× | 9.06× |
| 30 Oct 2026 | 5.82× | 9.06× |
| 4 Nov 2026 | 5.93× | 9.06× |
Earnings per share, 12 months
- Earnings per share, 12 months $3.48
| Week | Earnings per share, 12 months |
|---|---|
| 11 Jul 2025 | – |
| 18 Jul 2025 | – |
| 25 Jul 2025 | – |
| 1 Aug 2025 | – |
| 8 Aug 2025 | – |
| 15 Aug 2025 | – |
| 22 Aug 2025 | – |
| 29 Aug 2025 | – |
| 5 Sep 2025 | – |
| 12 Sep 2025 | – |
| 19 Sep 2025 | – |
| 26 Sep 2025 | $1.88 |
| 3 Oct 2025 | $1.88 |
| 10 Oct 2025 | $1.88 |
| 17 Oct 2025 | $1.88 |
| 24 Oct 2025 | $1.88 |
| 31 Oct 2025 | $1.88 |
| 7 Nov 2025 | $1.88 |
| 14 Nov 2025 | $1.88 |
| 21 Nov 2025 | $1.88 |
| 28 Nov 2025 | $1.88 |
| 5 Dec 2025 | $1.88 |
| 12 Dec 2025 | $1.88 |
| 19 Dec 2025 | $1.88 |
| 26 Dec 2025 | $2.53 |
| 2 Jan 2026 | $2.53 |
| 9 Jan 2026 | $2.53 |
| 16 Jan 2026 | $2.53 |
| 23 Jan 2026 | $2.53 |
| 30 Jan 2026 | $2.53 |
| 6 Feb 2026 | $2.53 |
| 13 Feb 2026 | $2.53 |
| 20 Feb 2026 | $2.53 |
| 27 Feb 2026 | $2.53 |
| 6 Mar 2026 | $2.53 |
| 13 Mar 2026 | $2.53 |
| 20 Mar 2026 | $2.53 |
| 27 Mar 2026 | $2.82 |
| 2 Apr 2026 | $2.82 |
| 10 Apr 2026 | $2.82 |
| 17 Apr 2026 | $2.82 |
| 24 Apr 2026 | $2.82 |
| 1 May 2026 | $2.82 |
| 8 May 2026 | $2.82 |
| 15 May 2026 | $2.82 |
| 22 May 2026 | $2.82 |
| 29 May 2026 | $2.82 |
| 5 Jun 2026 | $2.82 |
| 12 Jun 2026 | $2.82 |
| 18 Jun 2026 | $2.82 |
| 26 Jun 2026 | $3.18 |
| 2 Jul 2026 | $3.18 |
| 10 Jul 2026 | $3.18 |
| 17 Jul 2026 | $3.18 |
| 24 Jul 2026 | $3.18 |
| 31 Jul 2026 | $3.18 |
| 7 Aug 2026 | $3.18 |
| 14 Aug 2026 | $3.18 |
| 21 Aug 2026 | $3.18 |
| 28 Aug 2026 | $3.18 |
| 4 Sep 2026 | $3.18 |
| 11 Sep 2026 | $3.18 |
| 18 Sep 2026 | $3.18 |
| 25 Sep 2026 | $3.48 |
| 2 Oct 2026 | $3.48 |
| 9 Oct 2026 | $3.48 |
| 16 Oct 2026 | $3.48 |
| 23 Oct 2026 | $3.48 |
| 30 Oct 2026 | $3.48 |
| 4 Nov 2026 | $3.48 |
PEG 0.07 at the Jun 2026 quarter end: below 1.0, so the P/E is smaller than the earnings growth rate
- PEG 0.07×
- PEG = 1.0 1.00×
| Quarter | PEG | PEG = 1.0 |
|---|---|---|
| Jun 2025 | 0.03× | 1.00× |
| Sep 2025 | 0.02× | 1.00× |
| Dec 2025 | 0.04× | 1.00× |
| Mar 2026 | 0.05× | 1.00× |
| Jun 2026 | 0.07× | 1.00× |
Why the multiple is where it is: over the past year earnings per share moved +210.2% while the price moved −24.6%. Earnings did better than the price, which pulled the multiple down within its own range.
In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple.
Is the Caledonia Mining business getting better or worse?
Caledonia Mining Corporation Plc's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 10 quarters of 2 measures, with some gaps.
Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.
Growth year by year: revenue +46.3% in FY25, profit +211.4%
- Revenue growth 46.3%
| Quarter | Revenue growth |
|---|---|
| FY21 | – |
| FY22 | 23.3% |
| FY23 | −5% |
| FY23 | 2.8% |
| FY24 | 25.3% |
| FY25 | 46.3% |
Profit growth, EPS growth
- Profit growth 211.4%
- EPS growth 210.2%
| Quarter | Profit growth | EPS growth |
|---|---|---|
| FY21 | – | – |
| FY22 | −16% | −42.8% |
| FY23 | −28.4% | −0.4% |
| FY23 | −174.7% | −151.9% |
| FY24 | – | – |
| FY25 | 211.4% | 210.2% |
Three growth lines over twelve quarters: revenue stabilising, profit rolling over
- Revenue 16.5%
| Quarter | Revenue |
|---|---|
| Sep 2023 | – |
| Dec 2023 | – |
| Mar 2024 | 30.9% |
| Jun 2024 | 35.8% |
| Sep 2024 | 14% |
| Dec 2024 | 22.9% |
| Mar 2025 | 45.9% |
| Jun 2025 | 29.7% |
| Sep 2025 | 52.9% |
| Dec 2025 | 57.4% |
| Mar 2026 | 13.9% |
| Jun 2026 | 16.5% |
Profit, EPS
- Profit 16.2%
- EPS 85.4%
| Quarter | Profit | EPS |
|---|---|---|
| Sep 2023 | – | – |
| Dec 2023 | – | – |
| Mar 2024 | – | – |
| Jun 2024 | – | – |
| Sep 2024 | −46.6% | – |
| Dec 2024 | – | – |
| Mar 2025 | 300% | – |
| Jun 2025 | 153.6% | 300% |
| Sep 2025 | 300% | 300% |
| Dec 2025 | 102.8% | 227% |
| Mar 2026 | 84.9% | 156.9% |
| Jun 2026 | 16.2% | 85.4% |
ROCE: the return line, worked out each quarter
- ROCE 30.3%
| Quarter | ROCE |
|---|---|
| Sep 2023 | – |
| Dec 2023 | 7.3% |
| Mar 2024 | 10.6% |
| Jun 2024 | 14.5% |
| Sep 2024 | 14.8% |
| Dec 2024 | 17.7% |
| Mar 2025 | 20.7% |
| Jun 2025 | – |
| Sep 2025 | – |
| Dec 2025 | – |
| Mar 2026 | – |
| Jun 2026 | 30.3% |
Why it matters: with too little history, we say so rather than guess a direction.
One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result.
There are fewer than eight usable quarters, so this page does not guess a direction from so little history.
Compound annual growth rate (%)
Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.
| Measure | 1yr | 3yr | 5yr | 10yr |
|---|---|---|---|---|
| Revenue | +46.3% | +21.4% | — | — |
| Profit | +211.4% | +53.1% | — | — |
| EPS | +210.2% | +49.3% | — | — |
| Stock price | −24.6% | — | — | — |
How much does Caledonia Mining earn on its capital?
Caledonia Mining Corporation Plc earned a ROE of 19% in FY25. That is up from a low of −4% in FY23. Its return on capital used (ROIC) is 26.4 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 21.5% net margin and 0.62× asset turnover (sales divided by assets).
Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.
Why the return is what it is (FY25): a 21.5% net margin × 0.62× asset turnover × 1.45× leverage (assets divided by equity) ≈ 19.3% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.
The key test, return on capital used minus the cost of capital: 33.9% − 7.5% = +26.4 percentage points. The 7.5% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. A gap this wide means each dollar put back into the business creates more than a dollar of value.
The 33.9% ROIC above is the latest reading, as reported. The yearly chart below shows FY25 at 24.9%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.
FY25: ROE 19%, the climb back from FY23's −4%
- ROE 19.2%
- ROIC (annual) 24.9%
- Cost of capital 7.5%
| Quarter | ROE | ROIC (annual) | Cost of capital |
|---|---|---|---|
| FY21 | 10% | 15.2% | 7.5% |
| FY22 | 9.6% | 10.3% | 7.5% |
| FY23 | 6.9% | −5.5% | 7.5% |
| FY23 | −3.6% | −5.5% | 7.5% |
| FY24 | 7.5% | 12.4% | 7.5% |
| FY25 | 19.2% | 24.9% | 7.5% |
Jun 2026: ROIC 28.1% (last 12 months) against a 7.5% cost of capital
- ROIC (12 months) 28.1%
- ROE (12 months) 26%
- Cost of capital 7.5%
| Quarter | ROIC (12 months) | ROE (12 months) | Cost of capital |
|---|---|---|---|
| Sep 2023 | 7.4% | 0.4% | 7.5% |
| Dec 2023 | 4.9% | 8.6% | 7.5% |
| Mar 2024 | 3% | −10.7% | 7.5% |
| Jun 2024 | 5.4% | 3.4% | 7.5% |
| Sep 2024 | 9.3% | 15.3% | 7.5% |
| Dec 2024 | 8.8% | 4.8% | 7.5% |
| Mar 2025 | 10.2% | 10.4% | 7.5% |
| Jun 2025 | 13.3% | 18.7% | 7.5% |
| Sep 2025 | 16.3% | 37.4% | 7.5% |
| Dec 2025 | 22.1% | 27.7% | 7.5% |
| Mar 2026 | 25% | 20.1% | 7.5% |
| Jun 2026 | 28.1% | 26% | 7.5% |
Does Caledonia Mining have too much debt?
Caledonia Mining Corporation Plc has total debt of $117 M against shareholder equity of $324 M as of Jun 2026, so its debt is 0.36× its equity. Year by year, that ratio went from 0.01 in FY21 to 0.11 in FY25. Keep that borrowing in mind when reading the returns on this page.
Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.
FY25: debt $32.6 M, 0.11× equity
- Total debt $32.6 M
| Quarter | Total debt |
|---|---|
| FY21 | $1.4 M |
| FY22 | $12.7 M |
| FY23 | $12.7 M |
| FY23 | $25.1 M |
| FY24 | $25.1 M |
| FY25 | $32.6 M |
Debt-to-equity
- Debt-to-equity 0.11×
| Quarter | Debt-to-equity |
|---|---|
| FY21 | 0.01× |
| FY22 | 0.08× |
| FY23 | 0.08× |
| FY23 | 0.11× |
| FY24 | 0.11× |
| FY25 | 0.11× |
Jun 2026: debt $117 M, debt-to-equity 0.36
- Total debt (quarterly) $117 M
| Quarter | Total debt (quarterly) |
|---|---|
| Sep 2023 | $21.3 M |
| Dec 2023 | $25.1 M |
| Mar 2024 | $23.2 M |
| Jun 2024 | $28.0 M |
| Sep 2024 | $25.8 M |
| Dec 2024 | $25.1 M |
| Mar 2025 | $27.9 M |
| Jun 2025 | $28.0 M |
| Sep 2025 | $23.8 M |
| Dec 2025 | $32.6 M |
| Mar 2026 | $116 M |
| Jun 2026 | $117 M |
Debt-to-equity
- Debt-to-equity 0.36×
| Quarter | Debt-to-equity |
|---|---|
| Sep 2023 | 0.08× |
| Dec 2023 | 0.11× |
| Mar 2024 | 0.09× |
| Jun 2024 | 0.10× |
| Sep 2024 | 0.10× |
| Dec 2024 | 0.11× |
| Mar 2025 | 0.11× |
| Jun 2025 | 0.11× |
| Sep 2025 | 0.09× |
| Dec 2025 | 0.11× |
| Mar 2026 | 0.39× |
| Jun 2026 | 0.36× |
What is the Caledonia Mining shareholding pattern?
We have no ownership or short-position figures for Caledonia Mining Corporation Plc, so this section says so rather than fill the gap. At normal trading volumes, closing those positions would take about 8.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.
There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.
How far is Caledonia Mining from balance-sheet trouble?
For Caledonia Mining Corporation Plc, the Z-score is 2.89. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the grey area between the two. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.
The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.
Why it matters: a Z-score of 2.89 is in the grey area, neither clearly safe nor clearly in trouble.
How does Caledonia Mining rank in its industry?
There is no score against its industry: Caledonia Mining Corporation Plc is not among the largest members shown in this industry comparison for Gold.
The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown.
Which companies is Caledonia Mining compared with?
No sector comparison is shown here, not among the largest members shown in this industry comparison.
Which companies are close to Caledonia Mining in size?
Caledonia Mining is the 34th largest of 36 Gold companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Osisko Development Corp., Mako Mining Corp., Gold Royalty Corp. and Galiano Gold Inc. Just below it: TRX Gold Corporation and Idaho Strategic Resources, Inc.
Gold companies close in size
- Osisko Development Corp. $744 million
- Mako Mining Corp. $693 million
- Gold Royalty Corp. $670 million
- Galiano Gold Inc. $549 million
- Caledonia Mining Corporation Plc $398 million
- TRX Gold Corporation $319 million
- Idaho Strategic Resources, Inc. $317 million
All 36 Gold companies, largest first
Companies close in size in other industries
- Open Lending Corporation $372 million · Credit Services
- Timberland Bancorp, Inc. $369 million · Banks - Regional
- Caledonia Mining Corporation Plc $368 million
- Farmland Partners Inc. $367 million · REIT - Specialty
- Primis Financial Corp. $367 million · Banks - Regional
What else do people ask about Caledonia Mining?
What were Caledonia Mining's latest quarterly results?
Caledonia Mining Corporation Plc reported revenue of $72.0 M and net profit of $23.8 M for the Jun 2026 quarter. Revenue rose 16.5% and profit rose 16.2% compared with a year earlier. Earnings per share were $1.36.
The operating margin was 61.0%, 15.8 percentage points higher than a year earlier (as of 4 November 2026).
What is Caledonia Mining's market cap?
Caledonia Mining Corporation Plc's market capitalisation is $398 M at a stock price of $20.61. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).
How is Caledonia Mining performing?
Caledonia Mining Corporation Plc's latest readings are below. In its latest quarter, revenue rose 16.5% and profit rose 16.2% compared with a year earlier. Over the past 13 weeks it has done worse than the S&P 500, for 1 week running.
This describes what the data did, not a rating (as of 4 November 2026).
Will Caledonia Mining's stock price go up?
This page does not forecast Caledonia Mining Corporation Plc's stock price. What it shows instead: the stock price is $20.61. Its P/E of 5.9× is higher than 10% of its own last 1 years.
Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).
Is Caledonia Mining's profit real cash?
Yes, over the last 3 years, 194% of Caledonia Mining Corporation Plc's reported profit came in as cash from operations. The latest year was lower at 140%, so the trend is worth watching. In FY25, operating cash was $76.2 M against reported profit of $54.5 M.
Most of that cash then goes into building new capacity. These are yearly figures (as of 4 November 2026).
Where is Caledonia Mining in its business cycle?
Caledonia Mining Corporation Plc's FY25 operating margin was 41.0%, against a 6-year range of 13.3% to 41.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 61.0%.
Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).
What could break the Caledonia Mining story?
The main question: yearly earnings per share moved +210.2% while the share price moved −24.6%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).
Is Caledonia Mining a stock worth studying right now?
What the numbers show: Caledonia Mining Corporation Plc's earnings have grown faster than its share price. Earnings per share grew +210.2% in a year while the price moved −24.6%. The main open question: whether the price catches up with earnings that have already grown.
Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).
Where do these numbers come from?
Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.
Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.
See the plain-text version of this page.
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