Contango ORE (NYSEAMERICAN:CTGO) Announces Quarterly Earnings Results

Contango ORE (NYSEAMERICAN:CTGO) announced its earnings results on Monday. The company reported ($3.79) earnings per share for the quarter, missing the consensus estimate 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, reaching $22.73. 478,824 shares of the company’s stock were exchanged, compared to its average volume of 252,607. Contango ORE has a 1 year low of $9.22 and a 1 year high of $34.38. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.64. The stock has a market cap of $344.13 million, a PE ratio of 227.30 and a beta of -0.34. The stock’s fifty day moving average price is $28.38 and its two-hundred day moving average price is $25.64.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Contango ORE from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Contango ORE currently has an average 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 that occurred on Thursday, January 8th. The shares were sold at an average price of $26.00, for a total transaction of $509,808.00. Following the sale, the chief executive officer owned 538,761 shares of the company’s stock, valued at approximately $14,007,786. The trade was a 3.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Aaron Clark sold 10,097 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $26.00, for a total transaction of $262,522.00. Following the transaction, the chief financial officer owned 49,873 shares in the company, valued at $1,296,698. The trade was a 16.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On Contango ORE

Large investors have recently made changes to their positions in the stock. TMB Capital Partners LLC acquired a new position in shares of Contango ORE in the 4th quarter valued at $475,000. Susquehanna Portfolio Strategies LLC acquired a new stake in Contango ORE during the 4th quarter worth about $203,000. Polymer Capital Management US LLC purchased a new stake in Contango ORE during the 4th quarter valued at about $243,000. Inspire Investing LLC purchased a new stake in Contango ORE during the 4th quarter valued at about $1,233,000. Finally, Bridgeway Capital Management LLC increased its holdings 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 valued at $592,000 after purchasing an additional 1,000 shares during the period. 19.14% of the stock is owned by hedge funds and other institutional investors.

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.