Maxim Raised the Firm's PT on Caledonia Mining (CMCL), Kept a Buy Rating

Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is one of the Best Undervalued UK Stocks to Buy According to Analysts. On July 17, Maxim raised the firm’s price target on Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) from $21 to $28, while maintaining a Buy rating on the stock.

The firm highlighted that the company reported higher-than-expected gold production in Q2 from its mine in Zimbabwe. As a result, the company also raised its production forecasts. The firm expects the company to use its free cash flow to reduce its debt and pay dividends. As per the company’s July 16 press release, the Blanket Mine in Zimbabwe produced 21,070 ounces in Q2 2025, setting a new quarterly record. The overall first-half production reached 39,741 ounces, reflecting a 5.1% increase year-over-year. The company now expects to produce between 75,500 and 79,500 ounces of gold during the year.

Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is a gold production, exploration, and development company focused mainly on Zimbabwe. It owns a 64% stake in the Blanket Mine, along with other mining assets including Bilboes, Motapa, and Maligreen.

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Disclosure: None. This article is originally published at Insider Monkey.