13 Best Precious Metals Stocks to Buy According to Analysts

Page 3 of 12

10. Caledonia Mining Corporation Plc (NYSE:CMCL)

Number of Hedge Fund Holders: 7

Average Upside Potential: 34.92%

Caledonia Mining Corporation Plc (NYSE:CMCL) is a Jersey-based gold mining company that owns a major stake in Zimbabwe’s Blanket Mine, as well as additional gold projects in Zimbabwe. On December 16, 2024, Maxim Group started coverage of CMCL with a Buy rating and a price target of $17. According to the investment firm, the company is on the path to solid growth, with gold production projected to reach 85,000 ounces by 2026 and a long-term goal of 200,000 ounces annually. The company plans to use its cash flow for mine development, new projects, and maintaining its 5.4% dividend.

Caledonia Mining Corporation Plc (NYSE:CMCL) achieved a new record at its Blanket Mine in Q1 2025, producing 18,671 ounces of gold, exceeding both last year’s 17,050 ounces and the last Q1 high set in 2022. The mine also milled over 201,000 tonnes of ore, exceeding expectations by 13.4%, which led to a growing surface stockpile as production outpaced milling capacity. The company is still on track to meet its 2025 gold production target of 74,000 to 78,000 ounces.

According to Insider Monkey’s Q4 database, 7 hedge funds held stakes in Caledonia Mining Corporation Plc (NYSE:CMCL), compared to 9 funds in the prior quarter. William B. Gray’s Orbis Investment Management was the largest stakeholder of the company, with 782,501 shares valued at $7.36 million.

Page 3 of 12