5 Best Gold Mining Companies to Invest In According to Wall Street

4. Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL)

Upside Potential: 70.9%

On April 20, Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) reported first-quarter production from Blanket Mine of 14,767 ounces, below the prior year due to sequencing constraints, equipment issues, and ground conditions. Management reaffirmed full-year guidance of 72,000 to 76,500 ounces and expects stronger second-half production supported by mine development, a seven-day shift system, and increased milling capacity.

On January 15, shares of Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) declined after the company announced a proposed $100 million convertible senior notes offering. Management stated that proceeds would enhance financial flexibility for the development of the Bilboes gold project in Zimbabwe, along with general corporate and working capital needs.

Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) is an African-focused gold producer established on February 5, 1992. Headquartered in St. Helier, the company primarily operates the Blanket Mine in Zimbabwe and aims to become a multi-asset regional producer.

Caledonia Mining Corporation Plc (NYSEAMERICAN:CMCL) may interest investors because temporary operational weakness has not altered management’s full-year production outlook or expansion ambitions. If second-half improvements materialize, the shares could benefit from stronger output and growing long-term asset optionality.