CMCL
Caledonia Mining Corporation Plc
CMCL's fundamentals are strong and it looks cheap: trading at 6.0x earnings, below its usual 8.7x.
CMCL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
CMCL's revenue, profitability, cash flow and balance sheet are all currently healthy.
CMCL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.1x | $17.06 | -15% |
| Current | 6.1x | $20.16 | — |
| Fair | 8.7x | $28.88 | +43% |
| Expensive | 19x | $63.03 | +213% |
Historical ranges are pointers, not guarantees.
CMCL's PE is in its cheap range at 6.0x.
CMCL Forward outlook
There aren't enough analyst estimates for CMCL to show an outlook.
CMCL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $3.33 | +72% |
| Q1 2026 | $3.16 | +139% |
| Q4 2025 | $2.82 | +191% |
| Q3 2025 | $2.60 | +420% |
| Q2 2025 | $1.94 | +208% |
| Q1 2025 | $1.32 | +725% |
| Q4 2024 | $0.97 | +$1.17 |
| Q3 2024 | $0.50 | +$1.18 |
CMCL's earnings per share have climbed steadily: $3.33 over the past year, up 72% from the year before, and higher year over year for nine quarters in a row.
CMCL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $72M | +10% |
| Q1 2026 | $66.4M | +18% |
| Q4 2025 | $71M | +49% |
| Q3 2025 | $71.4M | +52% |
| Q2 2025 | $65.3M | +30% |
| Q1 2025 | $56.2M | +54% |
| Q4 2024 | $47.5M | +23% |
| Q3 2024 | $46.9M | +14% |
CMCL's revenue has grown year over year for 13 quarters in a row: $72M last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 46% | -8 points |
| Q1 2026 | 40% | +7.2 points |
| Q4 2025 | 47% | +20 points |
| Q3 2025 | 41% | +23 points |
| Q2 2025 | 54% | +22 points |
| Q1 2025 | 33% | +19 points |
| Q4 2024 | 27% | +20 points |
| Q3 2024 | 19% | -5.7 points |
CMCL's operating margin was 46% last quarter, down 8 points from the same quarter a year ago.
CMCL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $19.5M | +24% |
| Q1 2026 | $13.1M | +169% |
| Q4 2025 | $13.8M | +352% |
| Q3 2025 | $5.9M | +$8M |
| Q2 2025 | $15.7M | +30% |
| Q1 2025 | $4.9M | +579% |
| Q4 2024 | $3.1M | +$9M |
| Q3 2024 | -$2.1M | -143% |
CMCL generated $52M in free cash flow over the past year, up 143% from the year before.
CMCL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.5% | -495K shares |
| 1 year | 0% | -6.4K shares |
| 3 years | +6.8% | +1.2M shares |
| 5 years | +51% | +6.5M shares |
| Available history | +74% | +8.2M shares |
CMCL has 19M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
CMCL hasn't bought back shares in the past year.
CMCL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | 0.1x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.3x | Very low |
| Q4 2024 | 0.3x | Very low |
| Q3 2024 | 0.3x | Very low |
CMCL has more cash than debt.
CMCL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.7 | Neutral |
| Stochastic | 26.7 | Neutral |
CMCL's weekly RSI is 42 (neutral) and its Stochastic is 27 (neutral).
CMCL PE vs Basic Materials Sector
| Metric | CMCL | Sector median | Relative |
|---|---|---|---|
| PE | 6.1x | 19x | 67% below |
| PE % | 21 | 40 | 19 pts below |
CMCL is trading at 6.0x earnings, a 67% discount to the Basic Materials sector's median of 19x.
CMCL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.3 | 9.4% below |
| 20 week MA | $22.0 | 8.5% below |
| 50 week MA | $24.0 | 16% below |
| 100 week MA | $21.7 | 6.9% below |
| 200 week MA | $16.9 | 19% above |
CMCL has fallen below most of its moving averages, though it's still 19% above its 200-week average.
CMCL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.32 | $16.1 | +94% |
| 2021 | $16.1 | $11.1 | -31% |
| 2022 | $11.1 | $12.4 | +11% |
| 2023 | $12.4 | $12.2 | -1.3% |
| 2024 | $12.2 | $9.34 | -23% |
| 2025 | $9.34 | $27.9 | +199% |
| 2026 YTD | $27.9 | $20.2 | -28% |
CMCL has finished lower in three of the last six years. It's down 28% so far in 2026.