Caledonia Mining Future Growth

Future criteria checks 3/6

Caledonia Mining's revenue is forecast to decline at 0.1% per annum while its annual earnings are expected to grow at 91.6% per year.

Key information

91.6%

Earnings growth rate

n/a

EPS growth rate

Metals and Mining earnings growth	15.7%
Revenue growth rate	-0.1%
Future return on equity	n/a
Analyst coverage	Low
Last updated	10 Apr 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

NYSEAM:CMCL - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	135	N/A	N/A	N/A	1
12/31/2025	147	7	-72	51	2
12/31/2024	152	7	13	55	2
12/31/2023	139	-5	-16	15	N/A
9/30/2023	134	-9	-12	18	N/A
6/30/2023	130	-5	-19	13	N/A
3/31/2023	130	7	-7	32	N/A
12/31/2022	135	17	-1	43	N/A
9/30/2022	133	29	-4	45	N/A
6/30/2022	131	28	-3	43	N/A
3/31/2022	124	19	-2	39	N/A
12/31/2021	115	18	-7	31	N/A
9/30/2021	111	17	-2	33	N/A
6/30/2021	104	14	-3	32	N/A
3/31/2021	97	17	-7	23	N/A
12/31/2020	95	20	3	31	N/A
9/30/2020	91	20	3	24	N/A
6/30/2020	85	22	5	24	N/A
3/31/2020	79	40	2	22	N/A
12/31/2019	72	41	-2	18	N/A
9/30/2019	66	41	-1	18	N/A
6/30/2019	63	37	2	20	N/A
3/31/2019	63	17	-3	17	N/A
1/1/2019	65	10	-3	18	N/A
9/30/2018	67	11	-2	21	N/A
6/30/2018	68	12	-1	24	N/A
3/31/2018	68	10	6	30	N/A
12/31/2017	66	9	3	25	N/A
9/30/2017	62	9	N/A	24	N/A
6/30/2017	62	7	N/A	21	N/A
3/31/2017	62	10	N/A	23	N/A
12/31/2016	59	8	N/A	23	N/A
9/30/2016	56	7	N/A	18	N/A
6/30/2016	50	7	N/A	13	N/A
3/31/2016	47	4	N/A	7	N/A
12/31/2015	47	5	N/A	7	N/A
9/30/2015	53	3	N/A	7	N/A
6/30/2015	50	2	N/A	8	N/A
3/31/2015	50	4	N/A	7	N/A
12/31/2014	50	4	N/A	11	N/A
9/30/2014	48	-8	N/A	15	N/A
6/30/2014	53	-6	N/A	17	N/A
3/31/2014	53	-5	N/A	17	N/A
12/31/2013	57	-3	N/A	14	N/A
9/30/2013	64	14	N/A	17	N/A
6/30/2013	67	4	N/A	22	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CMCL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.3%).

Earnings vs Market: CMCL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CMCL is expected to become profitable in the next 3 years.

Revenue vs Market: CMCL's revenue is expected to decline over the next 3 years (-0.1% per year).

High Growth Revenue: CMCL's revenue is forecast to decline over the next 3 years (-0.1% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if CMCL's Return on Equity is forecast to be high in 3 years time

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Caledonia Mining Future Growth

Future criteria checks 3/6

Key information

Recent future growth updates

Caledonia Mining Corporation Plc Provides Earnings Guidance for the Year Ended December 31, 2023

Caledonia Mining Corporation Plc Reiterates its Gold Production Guidance for 2023

Caledonia Mining Corporation plc Provides Production Guidance for the Year to December 31, 2023

Price target decreased by 16% to US$14.75

Price target increased by 14% to US$17.31

Caledonia Mining Corporation plc Provides Consolidated Production Guidance for the Year Ended December 31, 2023

Recent updates

Caledonia Mining Corporation Plc Appoints James Mufara as Chief Operating Officer, Effective May 1, 2024

Fourth quarter dividend of US$0.14 announced

Full year 2023 earnings released: US$0.24 loss per share (vs US$1.36 profit in FY 2022)

Caledonia Mining Corporation Plc, Annual General Meeting, May 07, 2024

Caledonia Mining Corporation Plc, Annual General Meeting, May 07, 2024

Caledonia Mining Corporation plc Announces Non-Executive Director Changes

Caledonia Mining Corporation Plc Provides Earnings Guidance for the Year Ended December 31, 2023

Caledonia Mining Corporation Plc to Report Q4, 2023 Results on Mar 28, 2024

Caledonia Mining Corporation plc Reports Encouraging Results from Deep Level Drilling At Blanket Mine

Caledonia Mining Corporation plc Declares Quarterly Dividend, Payment on January 26, 2024

Caledonia Mining Corporation plc Announces Dana Roets to Step Down as Chief Operating Officer, Effect from February 29, 2024

Third quarter 2023 earnings released: EPS: US$0.24 (vs US$0.66 in 3Q 2022)

Caledonia Mining Corporation Plc Reiterates its Gold Production Guidance for 2023

Caledonia Mining Corporation plc Declares Quarterly Dividend, Payable on October 27, 2023

Second quarter 2023 earnings released: US$0.006 loss per share (vs US$0.88 profit in 2Q 2022)

Caledonia Mining Corporation plc Provides Production Guidance for the Year to December 31, 2023

Caledonia Mining Corporation Plc Reports Encouraging Results from the Ongoing Underground Drilling Program At Blanket Mine

Upcoming dividend of US$0.14 per share at 4.8% yield

Caledonia Mining Corporation Plc Declares Quarterly Dividend, Payable on July 28, 2023

Price target decreased by 16% to US$14.75

First quarter 2023 earnings released: US$0.30 loss per share (vs US$0.45 profit in 1Q 2022)

Caledonia Mining Corporation plc Announces Management Changes

Caledonia Mining Corporation Plc Announces Board Changes

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of US$0.14 per share at 3.2% yield

Full year 2022 earnings released: EPS: US$1.36 (vs US$1.49 in FY 2021)

Price target increased by 14% to US$17.31

Investor sentiment improves as stock rises 28%

Caledonia Mining Corporation plc Provides Update on the Operation of the New Solar Plant and Electricity Supply to Blanket Mine

Caledonia Mining Corporation plc Provides Mineral Resources and Reserves Update At the Blanket Mine

Investor sentiment deteriorates as stock falls 16%

Head of Risk & Compliance recently sold US$270k worth of stock

Caledonia Mining Corporation plc Provides Consolidated Production Guidance for the Year Ended December 31, 2023

Caledonia Mining Corporation Plc (NYSEAM:CMCL) completed the acquisition of Bilboes gold project in Zimbabwe from Baker Steel Resources Trust Ltd. (LSE:BSRT) a fund managed by Baker Steel Capital Managers LLP, Toziyana Resources Limited and Infinite Treasure Limited.

Caledonia Mining Corporation plc Announces Appointment of Mr. Victor Gapare as Executive Director

Upcoming dividend of US$0.14 per share

Caledonia Mining Corporation plc Declares Quarterly Dividend, Payable on January 27, 2023

Price target decreased to US$15.18

Caledonia Mining Corporation plc Announces Solar Plant Provides Power to Blanket Mine

Third quarter 2022 earnings released: EPS: US$0.66 (vs US$0.57 in 3Q 2021)

Caledonia Mining Corporation Plc Announces an Update to NI 43-101 Compliant Mineral Resources At Maligreen Project

Caledonia Mining Corporation Plc (NYSEAM:CMCL) acquired Motapa Mining Company UK Limited from Bulawayo Mining Company Limited.

Investor sentiment improved over the past week

Upcoming dividend of US$0.14 per share

Caledonia Declares Quarterly Dividend, Payable on October 28, 2022

Price target decreased to US$15.18

Second quarter 2022 earnings released: EPS: US$0.88 (vs US$0.21 in 2Q 2021)

Caledonia Mining Corporation Plc (NYSEAM:CMCL) signed an agreement to acquire Bilboes gold project in Zimbabwe from Baker Steel Resources Trust Ltd. (LSE:BSRT) a fund managed by Baker Steel Capital Managers LLP, Toziyana Resources Limited and Infinite Treasures Ltd for $53.3 million.

Caledonia Mining Corporation plc Reiterates Production Guidance for 2022

Caledonia Declares Quarterly Dividend on Each of the Company's Shares, Payable July 29, 2022

Caledonia Mining Corporation Plc Provides Production Guidance for the Year 2022

Caledonia Mining Corporation Plc Appoints Gordon Wylie as Independent Non-Executive Director

Caledonia Mining Corporation plc Reiterates Production Guidance for the Year 2022

Caledonia Mining Corporation Plc Provides Production Guidance for the Year 2022

Caledonia Mining Corporation plc Announces Resignation of John McGloin as Non-Executive Director

Caledonia Mining Corporation plc Provides Production Guidance for the Year 2022

Caledonia Mining Corporation Plc (NYSEAM:CMCL) entered into an agreement to acquire Mining claims in Maligreen project from Pan African Mining (Private) Limited for $4 million.

Caledonia Mining Corporation Plc (NYSEAM:CMCL) entered into an agreement to acquire Maligreen project from Pan African Mining Limited for $4 million.

Caledonia Mining Corporation plc Provides Production Guidance for the Year 2021 and 2022

Caledonia Mining Corporation Plc(NYSEAM:CMCL) dropped from Russell 3000E Index

Caledonia Mining Corporation plc Resource and Reserve Update At the Blanket Mine

Caledonia Mining Corporation Plc Provides Production Guidance for the Year 2021

Caledonia Mining Corporation plc Provides Production Guidance for 2021

Caledonia Mining Corporation Plc Appoints Geralda Wildschutt as Independent Non-Executive Director

Caledonia Mining Corporation plc Announces Completion of Equipping Phase of Central Shaft

Caledonia Mining Corporation plc Announces Update on Solar Power Project

Caledonia Reaches Agreement with the Government of Zimbabwe to Review Potential Investment Opportunities

Caledonia Mining Corporation Plc has completed a Follow-on Equity Offering in the amount of $13 million.

Earnings and Revenue Growth Forecasts