Contango ORE (NYSEAMERICAN:CTGO) Stock Rating Lowered by Zacks Research

Contango ORE (NYSEAMERICAN:CTGO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Roth Capital reissued a “buy” rating and issued a $35.00 price objective on shares of Contango ORE in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $32.34.

Contango ORE Stock Up 0.5%

CTGO stock opened at $27.31 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $408.56 million, a PE ratio of 273.10 and a beta of -0.35. The stock’s 50 day moving average is $24.82 and its 200-day moving average is $22.89. Contango ORE has a twelve month low of $8.85 and a twelve month high of $30.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTGO. AlphaQuest LLC boosted its holdings in Contango ORE by 30.7% in the third quarter. AlphaQuest LLC now owns 5,564 shares of the company’s stock worth $139,000 after acquiring an additional 1,308 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Contango ORE by 129.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock worth $58,000 after purchasing an additional 1,311 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Contango ORE by 141.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock worth $44,000 after purchasing an additional 1,327 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Contango ORE by 7.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 21,400 shares of the company’s stock valued at $534,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Contango ORE by 22.6% during the 2nd quarter. Bank of America Corp DE now owns 8,038 shares of the company’s stock worth $157,000 after purchasing an additional 1,481 shares during the period. Institutional investors own 19.14% of the company’s stock.

About Contango ORE

Contango ORE Royalty Trust (NYSE American: CTGO) is a grantor royalty trust that holds net overriding royalty interests in oil and gas properties. As a non‐operating entity, the trust itself does not engage in exploration, drilling or production activities but instead receives a percentage of revenues generated by producing wells. This structure offers investors exposure to commodity price movements and production volumes without the direct capital expenditure or operational risks associated with upstream oil and gas companies.

The trust’s assets consist primarily of royalty interests in offshore leases located on the continental shelf of the Gulf of Mexico.