Key Points
- CFO Michael Aaron Clark sold 1,289 Contango ORE shares at an average price of $20.94, totaling $26,991.66. His remaining stake was 54,709 shares, a 2.3% reduction.
- Contango ORE reported quarterly EPS of $0.14, beating the consensus estimate of a $0.04 loss. Analysts expect full-year EPS of $0.94.
- The stock opened at $21.00, with a market capitalization of approximately $679.8 million; analysts maintain a “Moderate Buy” consensus rating and an average price target of $33.50.
Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) CFO Michael Aaron Clark sold 1,289 shares of the firm's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.94, for a total value of $26,991.66. Following the completion of the transaction, the chief financial officer owned 54,709 shares of the company's stock, valued at $1,145,606.46. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Contango ORE Stock Performance
Shares of NYSEAMERICAN CTGO opened at $21.00 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.27 and a current ratio of 1.06. The stock has a 50 day moving average price of $16.95 and a 200 day moving average price of $21.01. The stock has a market capitalization of $679.77 million, a PE ratio of -7.14 and a beta of -0.01. Contango ORE, Inc. has a 52 week low of $14.50 and a 52 week high of $34.38.
Contango ORE (NYSEAMERICAN:CTGO - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.18. Analysts predict that Contango ORE, Inc. will post 0.94 earnings per share for the current fiscal year.
Analyst Ratings Changes
Separately, Zacks Research raised Contango ORE to a "hold" rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.50.
Get Our Latest Report on Contango ORE
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Contango ORE in the fourth quarter valued at about $29,000. Quarry LP acquired a new position in shares of Contango ORE during the 3rd quarter worth approximately $38,000. Tower Research Capital LLC TRC grew its position in shares of Contango ORE by 141.6% during the 2nd 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 in the last quarter. Federated Hermes Inc. grew its position in Contango ORE by 435.2% during the fourth quarter. Federated Hermes Inc. now owns 1,884 shares of the company's stock worth $50,000 after buying an additional 1,532 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Contango ORE in the 4th quarter valued at $51,000. Institutional investors own 19.14% of the company's stock.
About Contango ORE
(
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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