Could CALEDONIA MINING CORPORATION PLC Change Direction After Reaching 52-Week High?


The stock of CALEDONIA MINING CORPORATION PLC (TSE:CAL) hit a new 52-week high and has $2.79 target or 38.00% above today’s $2.02 share price. The 5 months bullish chart indicates low risk for the $99.27M company. The 1-year high was reported on Sep, 13 by If the $2.79 price target is reached, the company will be worth $37.72M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,444 shares traded hands. CALEDONIA MINING CORPORATION PLC (TSE:CAL) has risen 118.39% since February 5, 2016 and is uptrending. It has outperformed by 101.90% the S&P500.

Out of 3 analysts covering Caledonia Mining Plc (TSE:CAL), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Caledonia Mining Plc has been the topic of 3 analyst reports since September 21, 2015 according to StockzIntelligence Inc. Beaufort Securities maintained the stock on January 6 with “Speculative Buy” rating. Panmure Gordon maintained the shares of CAL in a report on September 21 with “Buy” rating.

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