Caledonia Mining (CMCL) Operating Expenses (2009 - 2026)

Caledonia Mining (CMCL) posted quarterly Operating Expenses of -$8.9 million for Q1 2026, down 5.66% YoY from -$9.5 million in Q1 2025, and up 70.12% sequentially from -$29.9 million in Q4 2025.

Caledonia Mining (CMCL) Operating Expenses (2009 - 2026) Analysis & Trends

Caledonia Mining has disclosed Operating Expenses across 18 years of filings, most recently posting -$8.9 million for Q1 2026.

  • In Q1 2026, Operating Expenses fell 5.66% year-over-year to -$8.9 million; the TTM figure through Mar 2026 stood at -$8.5 billion (down 6.64% YoY), while the FY2025 annual figure was -$4.8 million, up 79.33% from the prior year.
  • Operating Expenses improved to -$8.9 million in Q1 2026, from -$29.9 million in the prior quarter.
  • Over the last five years, Operating Expenses for CMCL reached as high as $5.5 million in Q3 2022 and fell as low as -$8.4 billion in Q2 2025.
  • The 5-year median for Operating Expenses is -$6.7 million (2024), against an average of -$963.9 million.
  • Annual changes were most pronounced in 2022 — Operating Expenses jumped 1126.74% — and 2024, when it slumped 3497002.65%.
  • A 5-year view of Operating Expenses shows it stood at -$4.9 million in 2022, then slumped by 49.75% to -$7.3 million in 2023, then rose by 8.72% to -$6.7 million in 2024, then slumped by 347.11% to -$29.9 million in 2025, then jumped by 70.12% to -$8.9 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered -$8.9 million, -$29.9 million, and -$8.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Barrick Mining 978.09 Bn 980.39 Bn 3.12 Bn 155.00 Mn
2 Trx Gold 189.48 Bn 189.48 Bn 21.05 Mn -7.01 Mn
3 Newmont 101.22 Bn 92.61 Bn 7.29 Bn 2.84 Bn
4 OR Royalties 53.18 Bn 53.08 Bn 88.84 Mn -19.25 Mn
5 Wheaton Precious Metals 50.59 Bn 48.43 Bn 699.37 Mn 89.82 Mn
6 Aura Minerals 50.25 Bn 50.25 Bn 19.58 Mn -1.16 Mn
7 Franco Nevada 40.21 Bn 39.50 Bn 526.30 Mn 9.20 Mn
8 Gold Fields 30.19 Bn 28.41 Bn - -
9 Kinross Gold 28.01 Bn 25.95 Bn 1.44 Bn 83.10 Mn
10 Caledonia Mining 3.20 Bn 3.06 Bn 32.10 Mn -8.94 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 -8.94 Mn
Dec 31, 2025 -29.91 Mn
Sep 30, 2025 -8.26 Mn
Jun 30, 2025 -8.41 Bn
Mar 31, 2025 -8.46 Mn
Dec 31, 2024 -6.69 Mn
Sep 30, 2024 -8.00 Mn
Jun 30, 2024 -7.90 Bn
Mar 31, 2024 1.21 Mn
Dec 31, 2023 -7.33 Mn
Sep 30, 2023 1.50 Mn
Jun 30, 2023 226,000.00
Mar 31, 2023 -3.68 Mn
Dec 31, 2022 -4.89 Mn
Sep 30, 2022 5.46 Mn
Jun 30, 2022 -269,000.00
Mar 31, 2022 -308,000.00
Dec 31, 2021 -1.53 Mn
Sep 30, 2021 445,000.00
Jun 30, 2021 454,000.00