Contango ORE (NYSEAMERICAN:CTGO) CEO Buys $62,651.64 in Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van acquired 4,111 shares of the stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $15.24 per share, with a total value of $62,651.64. Following the completion of the purchase, the chief executive officer owned 555,251 shares of the company’s stock, valued at approximately $8,462,025.24. The trade was a 0.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Contango ORE Price Performance

NYSEAMERICAN CTGO opened at $15.74 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $509.50 million, a PE ratio of -8.55 and a beta of -0.06. Contango ORE, Inc. has a 1 year low of $14.50 and a 1 year high of $34.38. The business’s 50-day moving average is $20.40 and its 200 day moving average is $24.12.

Contango ORE (NYSEAMERICAN:CTGO) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.99). Sell-side analysts forecast that Contango ORE, Inc. will post 0.94 earnings per share for the current year.

Hedge Funds Weigh In On Contango ORE

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its stake in Contango ORE by 1,908.3% in the 1st quarter. Bank of America Corp DE now owns 207,841 shares of the company’s stock worth $3,897,000 after purchasing an additional 197,492 shares in the last quarter. Royal Bank of Canada raised its holdings in Contango ORE by 6,539.8% in the first quarter. Royal Bank of Canada now owns 51,392 shares of the company’s stock worth $963,000 after buying an additional 50,618 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Contango ORE by 5.0% in the first quarter. Renaissance Technologies LLC now owns 135,278 shares of the company’s stock worth $2,536,000 after buying an additional 6,451 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Contango ORE in the first quarter worth approximately $204,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Contango ORE by 26.0% during the first quarter. Bank of New York Mellon Corp now owns 44,579 shares of the company’s stock valued at $836,000 after buying an additional 9,210 shares during the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of Contango ORE in a report on Thursday, March 26th. They issued a “buy” rating and a $32.00 price target on the stock. Zacks Research upgraded shares of Contango ORE to a “hold” rating in a report on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.50.

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.