Caledonia Mining Reports Q3 Revenue Beat Amidst Earnings Miss and Lower Production
Caledonia Mining (CMCL) reported mixed third-quarter results, characterized by a significant miss in GAAP earnings per share (EPS) of $0.11 against expectations. Despite the earnings shortfall, revenue reached $78.93 million, representing a 10.5% year-over-year increase and slightly exceeding analyst estimates. The revenue growth was primarily fueled by a substantial rise in the average realized gold price, which climbed to US$4,134/oz compared to US$3,434/oz in the same period last year. However, production at Blanket Mine saw a decline, producing 17,030 ounces compared to 19,106 ounces in Q3 of the previous year.
Tickers: $CMCL
Topics: earnings miss gold prices production volume revenue beat