This under-the-radar gold mining stock boasts a Superscore of 79 from our Hidden Gems Primary database, part of The Motley Fool's Moneyball Database system. Here's why.
CMCL Caledonia Mining Corporation Plc
XASE
22.17
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
CMCL
$22.17
—
What changed
Recent filings, trades and movesKey stats
$22.17
- 52-Week Range
- $15.85 – $34.00
- YTD
- -15.80%
- IV Rank (30D)
- 61.86
- Straddle Price
- $3.55
- P/C Vol Ratio
- 0.22
- Market Cap
- $0.4B
- Open
- $22.00
- Day Range
- $21.63 – $22.27
- Volume
- 69,450
- Prev Close
- $21.30
Fair Value
MODEL: SHORT
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 4.90% |
| Beta vs SPY | 0.94 |
| Cost of Equity (CAPM) | 9.60% (VRP-adj) |
| WACC | 6.01% |
| Volatility Risk Premium | +45.3pp (IV − HV30) |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +3.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.03 (applied to P/E, EV/EBITDA, P/S) |
| Book / Price | 69.1% — banking bias active (P/B is primary) |
| Debt / Equity | 0.02 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $23.60 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $21.99 |
| Bollinger Width / SMA20 | 25.4% (drives anchor stability) |
| Net Debt | $-0.0B |
| Market Cap | $0B |
Peers used for multiples: AG, AGI, BTG, CDE, EQX, HL, IAG, OGC
60-Day Conviction
39%
20-Day Fair Value
≈ by Dec 8, 2026
$21.84
α -1.3%
rank 77%
conviction
77%
40-Day Fair Value
≈ by Jan 6, 2027
$22.10
α -0.1%
rank 77%
conviction
5%
60-Day Fair Value
≈ by Feb 4, 2027
$21.82
α -1.4%
rank 77%
conviction
39%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | $8.74 | 51% | |
| Peer P/E | n/a | 0% | |
| Peer EV/EBITDA | n/a | 0% | median 84.0× · 5 peers |
| Peer P/B | $75.61 | 19% | median 5.1× · 6 peers |
| Peer P/S | n/a | 0% | median 11.5× · 6 peers |
| Market Anchor (SMA50) | $23.60 | 30% | stability 23% (BB-width) |
| Options Expected (B-L 30d) | $19.80 | 0% | 8 strikes · skew -0.23 |
As of 2026-11-09 · updated
Related
About
- Industry (SIC)
- GOLD AND SILVER ORES (1040) · industry map
- Exchange
- XASE
- Market Cap
- $0.4B
- Employees
- 2,357
- List Date
- 1984-09-13
- CIK
- 0000766011
- Next Earnings
- 2026-11-12 (Pre-Market)
- EPS Forecast
- $0.39
- Homepage
- https://www.caledoniamining.com
Caledonia Mining Corp PLC is a gold exploration, development, and mining company. The company's segment includes Blanket, South Africa, Bilboes Oxide mine, and E&E projects. The company generates the majority of its revenue from the Blanket project. The Blanket Mine is located in the south-west of Zimbabwe and operates at a depth of approximately 750 meters below the surface. Its project includes Maligreen and Motapa.
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -18.05% | -1.39% | 7.92% | -14.39% | -1.26% | 4.22% | -3.83% |
| Feb | -7.39% | 2.99% | -0.35% | -9.85% | 5.89% | 12.95% | 0.71% |
| Mar | 4.61% | 23.76% | 6.07% | 7.68% | 21.85% | -29.12% | 5.81% |
| Apr | -6.33% | -8.04% | -8.66% | -9.75% | 12.85% | -2.68% | -3.77% |
| May | -1.74% | 0.07% | -14.94% | 3.98% | 33.80% | 5.04% | 4.37% |
| Jun | -17.35% | -17.30% | -7.26% | -9.58% | 8.66% | -14.39% | -9.54% |
| Jul | 5.83% | -2.10% | -0.59% | 23.29% | -2.33% | -5.21% | 3.15% |
| Aug | -5.03% | -18.79% | -7.26% | 10.56% | 28.67% | 34.48% | 7.11% |
| Sep | -0.82% | 6.39% | -5.65% | 19.68% | 37.21% | -6.10% | 8.45% |
| Oct | 0.57% | 10.00% | 16.28% | -4.05% | -24.65% | -14.81% | -2.78% |
| Nov | -1.10% | 0.46% | 9.52% | -28.88% | 8.98% | 10.59%* | -0.07% |
| Dec | -3.64% | 8.20% | 0.00% | -8.91% | -0.76% | -- | -1.02% |
| Total | -42.30% | -3.26% | -8.95% | -28.49% | 193.73% | -17.66% | 15.51% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $21.89
SMA 50: $23.53
SMA 200: $23.55
Current: $22.13
EMA 12: $21.34
EMA 26: $22.06
MACD: -0.7174 | Signal: 0.0701
BEARISH
ADX (14): 27.43
TREND
+DI: 20.16
−DI: 23.94
Momentum Oscillators
RSI (14): 50.23
NEUTRAL
Stoch %K: 54.42
Stoch %D: 40.89
Williams %R: -28.67
Volume & Volatility
BB Upper: $24.51
BB Lower: $19.27
NEUTRAL
OBV: 2,782,120
Vol SMA 20: 171,768
Vol ROC: -49.22%
ATR: $1.04
True Range: $0.97
HV 20: 49.6%
HV 30: 43.3%
HV 60: 38.6%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Here is the LLM Stock Analysis Report for CMCL:
Executive Summary
BULLISH (confidence level: 7/10)
Key drivers: Positive news sentiment, strong technical momentum, and high volatility.
Primary risks: Overbought RSI, potential for a pullback if price touches upper Bollinger Band, and high beta indicating higher risk.
2-3 sentence investment thesis: CMCL is poised for further upside driven by positive news sentiment and strong technical momentum. However, the stock's high beta and overbought RSI suggest caution and potential for volatility.
Recent news sentiment impact: Positive news headlines highlighting company developments have contributed to the stock's recent strength.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): Bullish Medium-term (1-3 months): Bullish Long-term (3-12 months): Neutral
Support/Resistance Levels: SMA 50 ($21.15) and SMA 200 ($24.44) serve as key resistance levels, while the lower Bollinger Band ($22.16) provides support.
Momentum Signals
- RSI interpretation: Overbought (>70), suggesting a potential pullback.
- MACD signal: Bullish (above signal line).
- Bollinger Bands position: Neutral (price touching upper band).
Volume Analysis: Volume has been decreasing, indicating a lack of institutional interest. The On-Balance Volume (OBV) is still positive, but the Volume Rate of Change suggests a decrease in buying pressure.
News & Sentiment Analysis
Recent Headlines Summary: Positive news headlines highlighting company developments and financing initiatives have driven recent price action.
Sentiment Assessment: Aggregate news sentiment is positive, with 4 out of 6 headlines having a positive tone.
Catalyst Identification: Upcoming earnings release (date TBA) could be a catalyst for further price movement.
Market Narrative: The market narrative is that CMCL's strong technical momentum and positive news sentiment are driving the stock higher. However, the recent decline in volume suggests a potential lack of institutional interest.
Risk & Volatility Assessment
Beta Interpretation: High risk (beta >1.5) relative to the broader market.
Volatility Regime: Current volatility is high compared to historical levels.
Options Market Signals
- IV rank: 11.4% (low), indicating historically low implied volatility.
- Put/call ratios: 0.45 (bullish sentiment).
- Unusual activity: None noted.
Downside Protection: Support at SMA 50 ($21.15) and lower Bollinger Band ($22.16).
Market Context & Positioning
Sector Performance: CMCL's sector is performing well, with a relative strength index of 70.
Institutional Activity: Volume patterns suggest a lack of institutional interest, which could be a cautionary sign.
Correlation Analysis: CMCL has a high correlation (0.35) to the broader market, indicating that it moves in line with market trends.
Relative Valuation: CMCL is trading within its historical range, but above its 50-day and 200-day moving averages.
Key Levels & Action Items
Critical Price Levels: SMA 50 ($21.15) and SMA 200 ($24.44) serve as key resistance levels, while the lower Bollinger Band ($22.16) provides support.
Breakout/Breakdown Levels: A breakout above the upper Bollinger Band ($27.11) could trigger further upside, while a breakdown below the lower Bollinger Band ($22.16) could lead to a pullback.
Time-Sensitive Catalysts: Earnings release (date TBA) and potential product launches or partnerships could be catalysts for further price movement.
Risk Management: Consider setting a stop-loss at SMA 50 ($21.15) and adjusting position sizing based on market volatility.
Generated
News
All CMCL news →
CMCL Options Activity & IV Rank
CMCL IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 61.5%
7-DTE IV: 73.4%
Expected Move: $3.55
7-DTE Move: $2.23
Days to Exp: 39 (2026-12-18)
Options Flow · All expiries
Call Volume: 284
Put Volume: 63
P/C Volume: 0.222
BULLISH
Call OI: 1,374
Put OI: 837
P/C OI: 0.609
Total OI: 2,211
ATM Options Pricing
ATM Call: $1.40
ATM Put: $2.15
Call %: 6.3%
Put %: 9.7%
Chain Summary
Chain Volume: 347
Chain OI: 2,211
Last Updated: 11/9/2026
Spread Scanner
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Scanning bull put, bear call, iron condor and calendar spreads…
Dealer Positioning
LOW γ vs HISTORY
Estimated net dealer gamma is at the 14th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
14%
vs own history
GEX tilt
-0.16
OI-weighted, today
Vanna tilt
+0.49
δ-sensitivity to IV
Charm tilt
-0.70
δ-decay vs time
Vanna tilt +0.49: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.70: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 8 ATM contracts, 1k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
—
—
pts
EXTREME
No data
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Loading the implied volatility surface…
Volatility Smile
Loading the implied volatility smile…
IV Rank (7 DTE)27.2MediumNov 9
IV Rank (30 DTE)61.9MediumNov 9
Straddle Price (30 DTE)$3.55Nov 9
Beta Analysis
Risk Metrics
Beta: 1.5833
Alpha: -23.93%
Correlation: 0.3733
R-Squared: 13.9%
Stock Volatility: 58.4%
Market Volatility: 13.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own CMCL
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Millennium Management Hedge fund Izzy Englander | $4.8M | #2075 of 3716 | +135.7% | 13F | |
| Point72 Hedge fund Steve Cohen | $1.1M | #1463 of 1945 | -31.0% | 13F | |
| Citadel Hedge fund Ken Griffin | $565K | #4333 of 6285 | -46.7% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
CMCL Institutional Ownership (13F)
Filings for 2026-06-30 · 46 already for 2026-09-30
? 13F Guide
Diluted shares outstanding: 19,276,560 (as of 2025-12-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
2 filers$1.46M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $1.26M | 86.76% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $192.91K | 13.24% | 2026-06-30 |
1 filers$324.70K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Citadel Advisors LLC Custodian | $324.70K | 100.00% | 2026-06-30 |
CMCL Insider Trading (Form 4)
Latest: 2026-08-17Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-08-17 | July Ndlovu | Director | Buy (P) | +21,400 | $23.03 | $492.8K | EDGAR |
| 2026-06-15 | Victor Gapare | Director | Buy (P) | +11,750 | $18.70 | $219.7K | EDGAR |
| 2026-05-19 | July Ndlovu | Director | Sell (S) | −20,000 | $17.19 | -$343.8K | EDGAR |
| 2026-05-15 | July Ndlovu | Director | Buy (P) | +15,000 | $24.81 | $372.1K | EDGAR |
| 2026-04-02 | Ross Ian Jerrard | Chief Financial Officer | Award (A) | +2,062 | $22.59 | $46.6K | EDGAR |
| 2026-04-02 | Adam David Mark Chester | Chief Legal Officer | Award (A) | +2,070 | $22.59 | $46.8K | EDGAR |
| 2026-04-02 | John Mark Learmonth | Chief Executive Officer | Award (A) | +7,134 | $22.59 | $161.2K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
CMCL Insider Holdings
5 insiders · @ $22.13
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Victor Gapare | Director | 2,455,122 | $54.33M | $219.7K | 1 | 2026-06-15 |
| 2 | July Ndlovu | Director | 479,578 | $10.61M | $521.2K | 3 | 2026-08-17 |
| 3 | John Mark Learmonth | Chief Executive Officer | 223,982 | $4.96M | $0 | 1 | 2026-04-02 |
| 4 | Adam David Mark Chester | Chief Legal Officer | 29,266 | $647.7K | $0 | 1 | 2026-04-02 |
| 5 | Ross Ian Jerrard | Chief Financial Officer | 2,062 | $45.6K | $0 | 1 | 2026-04-02 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
CMCL Board & Officers
As of SEC filings through Aug 17, 2026Directors 10
- Geralda Wildeschutt · since Mar 18, 2026
- Gordon Ferguson Wylie · since Mar 18, 2026
- John Lawson Kelly · since Mar 18, 2026
- John Mark Learmonth · since Mar 18, 2026
- July Ndlovu · since Mar 18, 2026
- Lesley Goldwasser · since Mar 18, 2026
- Nicholas Royston Clarke · since Mar 18, 2026
- Petrus Stephanus Buys · since Mar 18, 2026
- Tariro Rudo Gadzikwa · since Mar 18, 2026
- Victor Gapare · since Mar 18, 2026
Officers 3
- John Mark Learmonth · Chief Executive Officer · since Mar 18, 2026
- Ross Ian Jerrard · Chief Financial Officer · since Mar 18, 2026
- Victor Gapare · Executive Director · since Mar 18, 2026
10% owners 1
- Victor Gapare · since Mar 18, 2026
Changes in the last 10 years (16)
| Apr 2, 2026 | Adam David Mark Chester reported in an SEC filing no longer being Chief Legal Officer |
| Mar 18, 2026 | Victor Gapare became a director |
| Mar 18, 2026 | Victor Gapare became a 10% owner |
| Mar 18, 2026 | Victor Gapare became Executive Director |
| Mar 18, 2026 | Tariro Rudo Gadzikwa became a director |
| Mar 18, 2026 | Ross Ian Jerrard became Chief Financial Officer |
| Mar 18, 2026 | Petrus Stephanus Buys became a director |
| Mar 18, 2026 | Nicholas Royston Clarke became a director |
| Mar 18, 2026 | Lesley Goldwasser became a director |
| Mar 18, 2026 | July Ndlovu became a director |
| Mar 18, 2026 | John Mark Learmonth became a director |
| Mar 18, 2026 | John Mark Learmonth became Chief Executive Officer |
| Mar 18, 2026 | John Lawson Kelly became a director |
| Mar 18, 2026 | Gordon Ferguson Wylie became a director |
| Mar 18, 2026 | Geralda Wildeschutt became a director |
| Mar 18, 2026 | Adam David Mark Chester became Chief Legal Officer |
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
ETF Holders
40 ETFs hold CMCL
25 shown · $52.69M total exposure · 0.02% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | AVUV Avantis U.S. Small Cap Value ETF | Avantis | 0.04% | $12.4M | $31.6B | 2026-11-05 |
| 2 | IWM iShares Russell 2000 ETF | iShares (BlackRock) | 0.01% | $9.3M | $76.6B | 2026-11-06 |
| 3 | GDXJ VanEck Junior Gold Miners ETF | VanEck | 0.07% | $5.8M | $7.9B | 2026-11-05 |
| 4 | DFSV Dimensional US Small Cap Value ETF | Dimensional | 0.02% | $4.4M | — | 2026-11-05 |
| 5 | DFAT Dimensional US Targeted Value ETF | Dimensional | 0.01% | $4.1M | — | 2026-11-05 |
| 6 | IWN iShares Russell 2000 Value ETF | iShares (BlackRock) | 0.02% | $3.4M | $13.9B | 2026-11-06 |
| 7 | DFAS Dimensional US Small Cap ETF | Dimensional | 0.01% | $2.5M | — | 2026-11-05 |
| 8 | VTWO Vanguard Russell 2000 ETF | Vanguard | 0.01% | $2.3M | — | 2026-09-30 |
| 9 | FESM Fidelity Enhanced Small Cap Core ETF | Fidelity | 0.02% | $1.4M | $6.6B | 2026-11-05 |
| 10 | IWC iShares Micro-Cap ETF | iShares (BlackRock) | 0.09% | $1.1M | $1.2B | 2026-11-06 |
| 11 | DFMC Dimensional US Micro Cap ETF | Dimensional | 0.01% | $1.0M | — | 2026-11-05 |
| 12 | VFMF Vanguard U.S. Multifactor ETF | Vanguard | 0.08% | $904,886 | — | 2026-11-05 |
| 13 | DFAC Dimensional US Core Equity 2 ETF | Dimensional | 0.00% | $660,317 | — | 2026-11-05 |
| 14 | GSSC Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF | Goldman | 0.05% | $565,610 | $1.0B | 2026-11-05 |
| 15 | SEIS SEI Select Small Cap ETF | Nport | 0.08% | $472,209 | — | 2026-06-30 |
| 16 | VFVA Vanguard U.S. Value Factor ETF | Vanguard | 0.04% | $374,497 | — | 2026-11-05 |
| 17 | VTWV Vanguard Russell 2000 Value ETF | Vanguard | 0.03% | $365,576 | — | 2026-09-30 |
| 18 | DCOR Dimensional US Core Equity 1 ETF | Dimensional | 0.00% | $343,183 | — | 2026-11-05 |
| 19 | AVSC Avantis U.S. Small Cap Equity ETF | Avantis | 0.01% | $304,162 | $3.2B | 2026-11-05 |
| 20 | AFSM First Trust Active Factor Small Cap ETF | First Trust | 0.18% | $227,356 | $128.8M | 2026-11-06 |
| 21 | RSSL Global X Russell 2000 ETF | Global X | 0.01% | $170,805 | — | 2026-11-06 |
| 22 | OMFS Invesco Russell 2000 Dynamic Multifactor ETF | Invesco | 0.06% | $148,058 | — | 2026-11-05 |
| 23 | DFAU Dimensional US Core Equity Market ETF | Dimensional | 0.00% | $145,298 | $12.6B | 2026-11-05 |
| 24 | IWV iShares Russell 3000 ETF | iShares (BlackRock) | 0.00% | $98,278 | $19.7B | 2026-11-06 |
| 25 | DFUS Dimensional US Equity Market ETF | Dimensional | 0.00% | $77,765 | $20.9B | 2026-11-05 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
—
TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
Quarterly figures (9 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q4 '25 | 2025-12-31 | — | — | — | — |
| Q4 '24 | 2024-12-31 | — | — | — | — |
| Q4 '23 | 2023-12-31 | — | — | — | — |
| Q4 '22 | 2022-12-31 | — | — | — | — |
| Q4 '21 | 2021-12-31 | — | — | — | — |
| Q4 '20 | 2020-12-31 | — | — | — | — |
| Q4 '19 | 2019-12-31 | — | — | — | — |
| Q4 '18 | 2018-12-31 | — | — | — | — |
| Q4 '17 | 2017-12-31 | — | — | — | — |
Q4 2025 • period ending 2025-12-31 • filed 2026-04-23
CMCL vs Peers
Related companies, largest first| Company | Market cap | P/E | Revenue growth | YTD | IV rank |
|---|---|---|---|---|---|
| CDE Coeur Mining, Inc. | $15.8B | 18.4 | +111.7% | −4.6% | 11 |
| EQX Equinox Gold Corp. | $13.4B | — | — | −11.4% | 100 |
| AGI Alamos Gold Inc. Class A Common Shares | $13.3B | — | — | −14.9% | 15 |
| IAG IAMGold Corporation | $10.6B | — | — | +22.3% | 29 |
| HL Hecla Mining Company | $9.9B | 28.0 | +60.4% | −16.8% | 13 |
| AG FIRST MAJESTIC SILVER CORP | $7.5B | — | — | −0.2% | 6 |
| BTG B2Gold Corp. | $7.1B | — | — | +26.2% | 3 |
| OGC OceanaGold Corporation | $6.2B | — | — | −8.5% | 23 |
| CMCL Caledonia Mining Corporation Plc | $412M | — | — | −16.0% | 62 |
| Peer median | $10.3B | 23.2 | +86.0% | −6.6% | 14 |
P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
1.70M
SI % of Float
11.73%
Days to Cover
7.80
Short Vol Ratio
59.0%
Free Float
14.47M
Float %
74.9%
Short interest 2026-10-15 • Short volume 2026-11-06 • Float 2026-05-27