Caledonia Mining Corporation
NYSE MKT: CMCL · BASIC MATERIALS · GOLD
Updated 2026-04-30
Caledonia Mining Corporation (CMCL) Stock Valuation Analysis
Fair value estimate, historical valuation range, and quality signals for CMCL.
Valued
Fundamentals support the current valuation. Strong combination of growth, quality, and price.
CMCL historical valuation range
Where current P/E sits in CMCL's own 5Y range.
CMCL intrinsic value (DCF)
DCF-based fair value estimate vs current market price.
Intrinsic value calculated using discounted cash flow (DCF) model based on projected free cash flows, discount rate, and terminal growth assumptions. A positive margin of safety indicates the current price is below estimated fair value, providing a cushion against estimation error.
CMCL valuation signals
Quick-read green flags, caution flags, and risks based on current metrics.
P/E Ratio — History
Current: 8.93x
P/S Ratio — History
Current: 1.92x
Is CMCL overvalued in 2026?
Caledonia Mining Corporation (CMCL) currently trades at $22.90 per share with a market capitalization of $487,847,000.00. Based on our multi-factor framework, the stock looks attractively valued with a Smart Value Score of 80/100. This score blends growth quality, financial health, and price attractiveness into a single institutional-grade read.
The stock trades at a P/E ratio of 8.9x, below its 5-year median of 9.3x.
Looking at its own history, CMCL is currently trading cheaper than 71% of the last 5Y on P/E. This places it in the 29th percentile of its historical range, a reasonable but unremarkable position.
Our discounted cash flow model estimates CMCL's intrinsic value at $29.33 per share, against the current market price of $22.90. This implies a premium to fair value of -3.61%. The stock is priced close to its estimated fair value, offering limited upside without further operational improvement.
The Piotroski F-Score of 4/9 puts financial quality in a middling range, neither a standout strength nor an obvious red flag.
Bottom line: CMCL looks attractively valued on our framework, with a Smart Value Score of 80/100. The combination of reasonable price, healthy growth, and quality fundamentals makes it worth serious consideration.
Frequently asked questions
Is CMCL overvalued in 2026?
Based on a Smart Value Score of 80/100, CMCL is not overvalued. Fundamentals support the current price and offer reasonable margin of safety.
What is CMCL's fair value?
Our DCF model estimates CMCL's intrinsic value at $29.33 per share, versus the current price of $22.90. This produces a margin of safety of -3.61%.
What P/E ratio does CMCL trade at?
CMCL trades at a P/E of 8.9x on trailing twelve-month earnings, compared to its 5-year median of 9.3x.
Is CMCL a buy based on valuation?
WallStSmart does not issue buy or sell recommendations. Our Smart Value Score of 80/100 reflects the combined read on growth, quality, and price. The profile skews favorable for long-term accumulation.
How does CMCL's valuation compare to its history?
On P/E, CMCL currently sits in the 29th percentile of its own 5Y range. That is below its long-run median relative to where it has traded over the period.
What is CMCL's Smart Value Score?
CMCL's Smart Value Score is 80/100. The Smart Value Score is a proprietary WallStSmart metric blending growth quality, financial health, and valuation attractiveness into a single 0-100 read. Scores above 75 are rare and indicate strong multi-factor alignment.