Key Points
- CFO Michael Aaron Clark sold 10,075 shares on March 19 at an average of $17.92 for $180,544, leaving him with 39,798 shares — a 20.20% reduction in his ownership stake.
- Clark also sold 10,097 shares on January 8 at $26 per share for $262,522, giving him two recent insider sales totaling 20,172 shares worth about $443,066.
- Contango ORE opened at $17.20 (down 2.1%), trades in a 1‑year range of $9.22–$34.38 with a $289.3M market cap, and has a consensus analyst rating of Moderate Buy with a $35 price target.
Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) VP David Gregory Larimer sold 2,775 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $17.92, for a total transaction of $49,728.00. Following the completion of the sale, the vice president directly owned 12,793 shares of the company's stock, valued at approximately $229,250.56. This trade represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Contango ORE Stock Down 2.1%
Shares of Contango ORE stock opened at $17.20 on Friday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.90 and a quick ratio of 1.14. The stock has a market cap of $289.30 million, a price-to-earnings ratio of -5.95 and a beta of -0.34. The firm's 50-day moving average is $27.67 and its two-hundred day moving average is $25.52. Contango ORE, Inc. has a 1 year low of $9.22 and a 1 year high of $34.38.
Wall Street Analysts Forecast Growth
Separately, Zacks Research raised shares of Contango ORE from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Contango ORE has a consensus rating of "Moderate Buy" and an average target price of $35.00.
View Our Latest Stock Analysis on CTGO
Institutional Investors Weigh In On Contango ORE
A number of hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. purchased a new stake in shares of Contango ORE during the third quarter worth about $36,772,000. Franklin Resources Inc. raised its position in shares of Contango ORE by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 759,709 shares of the company's stock valued at $20,064,000 after purchasing an additional 33,359 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Contango ORE by 17.8% in the 4th quarter. Van ECK Associates Corp now owns 403,098 shares of the company's stock valued at $10,646,000 after purchasing an additional 60,917 shares during the last quarter. Glazer Capital LLC acquired a new stake in Contango ORE in the 4th quarter worth approximately $8,453,000. Finally, Geode Capital Management LLC grew its position in Contango ORE by 23.9% during the 4th quarter. Geode Capital Management LLC now owns 258,610 shares of the company's stock worth $6,831,000 after purchasing an additional 49,947 shares during the last quarter. 19.14% of the stock is currently owned by hedge funds and other institutional investors.
Contango ORE Company Profile
(
Get Free Report)
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.
Further Reading
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