Contango ORE (NYSEAMERICAN:CTGO) Announces Quarterly Earnings Results

Contango ORE (NYSEAMERICAN:CTGO) released its quarterly earnings data on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.18, FiscalAI reports.

Contango ORE Stock Performance

NYSEAMERICAN:CTGO traded up $0.66 during mid-day trading on Friday, hitting $20.14. 237,646 shares of the stock were exchanged, compared to its average volume of 447,676. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.27 and a current ratio of 1.27. The firm’s 50-day simple moving average is $16.61 and its 200 day simple moving average is $21.35. Contango ORE has a fifty-two week low of $14.50 and a fifty-two week high of $34.38. The stock has a market capitalization of $651.96 million, a price-to-earnings ratio of -10.93 and a beta of -0.01.

Insiders Place Their Bets

In other news, CEO Nieuwenhuyse Rick Van bought 4,111 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $15.24 per share, with a total value of $62,651.64. Following the completion of the acquisition, the chief executive officer owned 555,251 shares of the company’s stock, valued at $8,462,025.24. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 5.40% of the stock is owned by insiders.

Institutional Trading of Contango ORE

A number of institutional investors have recently bought and sold shares of the business. Deutsche Bank AG grew its position in Contango ORE by 4.3% during the fourth quarter. Deutsche Bank AG now owns 10,104 shares of the company’s stock worth $267,000 after buying an additional 417 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Contango ORE by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company’s stock worth $592,000 after purchasing an additional 1,000 shares during the period. Russell Investments Group Ltd. raised its stake in Contango ORE by 129.9% in the third quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock valued at $58,000 after purchasing an additional 1,311 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Contango ORE by 141.6% in 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 position 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 period. Institutional investors own 19.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Contango ORE to a “hold” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.