Contango ORE (NYSEAMERICAN:CTGO) Issues Earnings Results, Beats Estimates By $0.18 EPS

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

Contango ORE Stock Performance

Shares of Contango ORE stock traded up $0.72 on Friday, reaching $20.20. 303,958 shares of the company were exchanged, compared to its average volume of 382,233. The company’s 50-day moving average is $16.68 and its two-hundred day moving average is $21.34. The firm has a market cap of $653.87 million, a price-to-earnings ratio of -6.87 and a beta of -0.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.27 and a current ratio of 1.27. Contango ORE has a 1-year low of $14.50 and a 1-year high of $34.38.

Insider Transactions at Contango ORE

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in shares of Contango ORE during the third quarter valued at about $38,000. Tower Research Capital LLC TRC increased 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. Federated Hermes Inc. increased its holdings in shares of Contango ORE by 435.2% in the fourth quarter. Federated Hermes Inc. now owns 1,884 shares of the company’s stock worth $50,000 after acquiring an additional 1,532 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Contango ORE during the fourth quarter worth $51,000. Finally, Russell Investments Group Ltd. raised its position in Contango ORE by 129.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock valued at $58,000 after buying an additional 1,311 shares during the last quarter. 19.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Zacks Research raised 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 assigned a Hold rating to the stock. Based on data from MarketBeat, Contango ORE presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

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.