Contango ORE (NYSEAMERICAN:CTGO – Get Free Report) issued its earnings results on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.18, FiscalAI reports.
Contango ORE Stock Performance
Shares of CTGO traded up $0.72 during mid-day trading on Friday, reaching $20.20. 303,955 shares of the company’s stock were exchanged, compared to its average volume of 447,952. The business’s fifty day simple moving average is $16.61 and its 200-day simple moving average is $21.35. The stock has a market capitalization of $653.87 million, a PE ratio of -10.98 and a beta of -0.01. Contango ORE has a 52-week low of $14.50 and a 52-week high of $34.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.27 and a quick ratio of 1.27.
Analyst Ratings Changes
Separately, Zacks Research upgraded Contango ORE to a “hold” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Contango ORE presently has an average rating of “Moderate Buy” and a consensus target price of $33.50.
Insider Buying and Selling
In other Contango ORE news, CEO Nieuwenhuyse Rick Van purchased 4,111 shares of Contango ORE stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $15.24 per share, for a total transaction of $62,651.64. Following the transaction, the chief executive officer directly owned 555,251 shares in the company, valued at $8,462,025.24. This trade represents a 0.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. acquired a new stake in shares of Contango ORE during the third quarter worth about $36,772,000. Franklin Resources Inc. increased its position in 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 acquiring an additional 33,359 shares during the period. Van ECK Associates Corp increased its position in 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 acquiring an additional 60,917 shares during the period. Glazer Capital LLC purchased a new stake in Contango ORE during the 4th quarter valued at approximately $8,453,000. Finally, Geode Capital Management LLC raised its stake in Contango ORE by 23.9% during the 4th quarter. Geode Capital Management LLC now owns 258,610 shares of the company’s stock valued at $6,831,000 after acquiring an additional 49,947 shares during the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.
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.
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