Contango ORE (NYSEAMERICAN:CTGO) Stock Rating Upgraded by Zacks Research

Contango ORE (NYSEAMERICAN:CTGO) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Contango ORE Stock Performance

CTGO stock traded down $2.01 during midday trading on Tuesday, reaching $25.57. 256,449 shares of the company were exchanged, compared to its average volume of 269,506. Contango ORE has a one year low of $8.85 and a one year high of $34.38. The firm has a market capitalization of $382.53 million, a price-to-earnings ratio of 255.70 and a beta of -0.35. The business has a 50-day moving average price of $28.13 and a two-hundred day moving average price of $24.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.14 and a quick ratio of 1.14.

Insider Buying and Selling

In other Contango ORE news, CFO Michael Aaron Clark sold 10,097 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total value of $262,522.00. Following the transaction, the chief financial officer directly owned 49,873 shares of the company’s stock, valued at $1,296,698. This represents a 16.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nieuwenhuyse Rick Van sold 19,608 shares of Contango ORE stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total value of $509,808.00. Following the sale, the chief executive officer directly owned 538,761 shares of the company’s stock, valued at $14,007,786. This represents a 3.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 14.40% of the company’s stock.

Institutional Trading of Contango ORE

A number of institutional investors have recently modified their holdings of CTGO. AlphaQuest LLC acquired a new position in shares of Contango ORE in the 2nd quarter valued at approximately $83,000. XTX Topco Ltd bought a new position in Contango ORE in the second quarter valued at approximately $593,000. Minerva Advisors LLC increased its stake in Contango ORE by 8.6% in the second quarter. Minerva Advisors LLC now owns 76,147 shares of the company’s stock valued at $1,487,000 after acquiring an additional 6,000 shares during the last quarter. Tower Research Capital LLC TRC raised its position 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 valued at $44,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Contango ORE by 22.6% during the second quarter. Bank of America Corp DE now owns 8,038 shares of the company’s stock worth $157,000 after purchasing an additional 1,481 shares during the last quarter. 19.14% of the stock is currently owned by 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.