Contango ORE (NYSEAMERICAN:CTGO) Issues Earnings Results

Contango ORE (NYSEAMERICAN:CTGO) posted its quarterly earnings data on Monday. The company reported ($3.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($3.92), FiscalAI reports.

Contango ORE Stock Down 2.6%

Shares of CTGO stock traded down $0.61 during trading hours on Monday, hitting $22.73. 478,824 shares of the company’s stock traded hands, compared to its average volume of 252,607. 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 stock’s fifty day simple moving average is $28.38 and its two-hundred day simple moving average is $25.64. Contango ORE has a 12-month low of $9.22 and a 12-month high of $34.38. The stock has a market cap of $344.13 million, a price-to-earnings ratio of 227.30 and a beta of -0.34.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Contango ORE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Insider Activity at Contango ORE

In other Contango ORE news, CEO Nieuwenhuyse Rick Van sold 19,608 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total value of $509,808.00. Following the sale, the chief executive officer directly owned 538,761 shares of the company’s stock, valued at approximately $14,007,786. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Aaron Clark sold 10,097 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total value of $262,522.00. Following the completion of the sale, the chief financial officer directly owned 49,873 shares in the company, valued at approximately $1,296,698. This represents a 16.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On Contango ORE

Several large investors have recently modified their holdings of CTGO. Deutsche Bank AG grew its position in Contango ORE by 4.3% during the 4th quarter. Deutsche Bank AG now owns 10,104 shares of the company’s stock valued at $267,000 after purchasing an additional 417 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Contango ORE by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company’s stock worth $592,000 after buying an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Contango ORE by 129.9% during the third quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock valued at $58,000 after buying an additional 1,311 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Contango ORE by 141.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock valued at $44,000 after buying an additional 1,327 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Contango ORE by 22.6% during the second quarter. Bank of America Corp DE now owns 8,038 shares of the company’s stock valued at $157,000 after acquiring an additional 1,481 shares in the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Contango ORE Company Profile

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.