Globeflex Capital L P Makes New Investment in Contango ORE, Inc. $CTGO

Globeflex Capital L P bought a new position in shares of Contango ORE, Inc. (NYSEAMERICAN:CTGO) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 34,565 shares of the company’s stock, valued at approximately $913,000. Globeflex Capital L P owned about 0.23% of Contango ORE at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Contango ORE during the fourth quarter worth $29,000. Quarry LP bought a new stake in Contango ORE during the third quarter worth $38,000. Tower Research Capital LLC TRC lifted its stake in Contango ORE by 141.6% during 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. Russell Investments Group Ltd. lifted its stake in Contango ORE by 129.9% during the third 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 during the last quarter. Finally, AlphaQuest LLC lifted its stake in Contango ORE by 30.7% during the third quarter. AlphaQuest LLC now owns 5,564 shares of the company’s stock worth $139,000 after purchasing an additional 1,308 shares during the last quarter. 19.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTGO. Zacks Research upgraded Contango ORE to a “hold” rating in a research note on Wednesday, May 20th. Canaccord Genuity Group started coverage on Contango ORE in a research note on Thursday, March 26th. They set a “buy” rating and a $32.00 target price for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Insider Transactions at Contango ORE

In other news, VP David Gregory Larimer sold 2,775 shares of the company’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $17.92, for a total transaction of $49,728.00. Following the completion of the transaction, the vice president directly owned 12,793 shares in the company, valued at approximately $229,250.56. This represents a 17.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Aaron Clark sold 10,075 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $17.92, for a total transaction of $180,544.00. Following the transaction, the chief financial officer owned 39,798 shares of the company’s stock, valued at $713,180.16. This trade represents a 20.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 34,471 shares of company stock worth $617,720. Corporate insiders own 14.40% of the company’s stock.

Contango ORE Stock Up 3.5%

Shares of NYSEAMERICAN:CTGO opened at $18.71 on Friday. The company has a fifty day moving average of $21.73 and a 200-day moving average of $24.94. The company has a market capitalization of $605.64 million, a PE ratio of -10.17 and a beta of -0.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.27 and a current ratio of 1.27. Contango ORE, Inc. has a 52-week low of $16.37 and a 52-week high of $34.38.

Contango ORE (NYSEAMERICAN:CTGO) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.99). On average, equities analysts predict that Contango ORE, Inc. will post 0.94 EPS for the current fiscal year.

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.