Caledonia Mining Corporation Plc Common Shares (CMCL)

FairStock Score: 95/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn good returns on capital and sell for less than they are worth. Caledonia, at the 2026-10-13 close of $23.73, is a Zimbabwe-focused gold miner with a $475.3M market cap. FairStock calculations show a P/E of 6.80, P/B of 1.56, EV/EBITDA of 3.26, and a 10.5% trailing free cash flow yield. Return on equity is 27.91% and return on capital employed is 17.05%, which tells me the operation is generating real cash returns. Debt to equity is 0.36, and the beta of 0.71 suggests the shares have been less jumpy than the wider market. In the second quarter of 2026, the provided filed figures show revenue of $75.9M and net income of $23.8M, a 31.36% margin. The provided filed figures show revenue growth of 18.25% and profit growth of 77.82%, so the trajectory is improving. The Graham Number is $34.55, implying a 31.32% margin of safety at that close, and the Piotroski score is a strong 8/9. The Altman Z-score of 1.89 is less comforting and reminds me this is not a fortress balance sheet. Gold miners are price-takers; Caledonia's moat is mainly its asset position and reserves, not pricing power. It owns 64% of Blanket and other claims, but jurisdiction matters. The dividend yield is 2.32%. On these numbers, the price looks cheap relative to earnings and cash flow, provided the mine keeps producing and Zimbabwe remains workable.

In plain English: Caledonia Mining is a gold mining company focused on Zimbabwe, with a stake in the Blanket Mine and other gold projects. The business looks strong: it is profitable, sales and profits are growing, and debt is moderate. Compared with its earnings and cash flow, the stock price looks inexpensive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer