Michael Aaron Clark Sells 1,289 Shares of Contango ORE (NYSEAMERICAN:CTGO) Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CFO Michael Aaron Clark sold 1,289 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $20.94, for a total value of $26,991.66. Following the sale, the chief financial officer directly owned 54,709 shares in the company, valued at approximately $1,145,606.46. This represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Contango ORE Stock Up 9.7%

Shares of NYSEAMERICAN:CTGO traded up $1.85 during trading on Wednesday, hitting $21.00. 583,757 shares of the company’s stock traded hands, compared to its average volume of 447,494. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $16.82 and a 200-day moving average price of $21.08. Contango ORE, Inc. has a 52 week low of $14.50 and a 52 week high of $34.38. The company has a market cap of $679.77 million, a price-to-earnings ratio of -7.14 and a beta of -0.01.

Contango ORE (NYSEAMERICAN:CTGO) last posted its earnings results on Thursday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.18. As a group, research analysts forecast that Contango ORE, Inc. will post 0.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Contango ORE to a “hold” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.50.

Hedge Funds Weigh In On Contango ORE

Several hedge funds have recently made changes to their positions in the business. Globeflex Capital L P acquired a new position in Contango ORE during the fourth quarter worth $913,000. Strs Ohio bought a new stake in Contango ORE during the 4th quarter worth about $29,000. Van ECK Associates Corp lifted its position in Contango ORE by 80.0% during the 2nd quarter. Van ECK Associates Corp now owns 819,087 shares of the company’s stock worth $12,933,000 after buying an additional 364,062 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Contango ORE by 1,908.3% during the 1st quarter. Bank of America Corp DE now owns 207,841 shares of the company’s stock worth $3,897,000 after buying an additional 197,492 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of Contango ORE by 6,539.8% in the 1st quarter. Royal Bank of Canada now owns 51,392 shares of the company’s stock valued at $963,000 after acquiring an additional 50,618 shares in the last quarter. 19.14% of the stock is owned by institutional investors.

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.