Caledonia Mining Revenue Up 46% to $267.7M, Profit Triples to $67.5M
Caledonia Mining's 2025 revenue rose 46% to $267.7 million, profit after tax tripled to $67.5 million and EPS jumped 211% to $2.83. EBITDA more than doubled to $125.3 million, net debt flipped to a $23.8 million net cash position and the board approved a $0.14 per share dividend.
1. Full-Year 2025 Financial Highlights
Caledonia Mining reported 2025 revenue of $267.7 million, up 46% year-over-year, with profit after tax rising to $67.5 million and EPS of $2.83. The realized gold price averaged $3,383 per ounce, while Blanket Mine produced 76,213 ounces and sold 79,075 ounces.
2. Fourth-Quarter Performance
In the fourth quarter, revenue reached $74.74 million, a 57.3% increase year-over-year, and EPS was $0.56, narrowly below the $0.59 estimate. Strong gold prices and stable mine output underpinned results despite minor inventory adjustments.
3. Balance Sheet and Shareholder Return
Robust cash generation drove EBITDA to $125.3 million and transformed net debt of $8.7 million into a $23.8 million net cash position by year-end. The board declared a $0.14 per share quarterly dividend payable on April 17, 2026.
4. Strategic Outlook
The company will focus on optimizing operations at Blanket Mine and advancing the Bilboes sulphide project to sustain production growth. Attractive valuation metrics—trailing P/E of 8.36 and a debt-to-equity ratio of 0.095—support continued cash generation in a high gold price environment.