Zacks Research Upgrades Contango ORE (NYSEAMERICAN:CTGO) to “Hold”

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

Separately, Canaccord Genuity Group assumed coverage on Contango ORE in a research report on Thursday, March 26th. They set a “buy” rating and a $32.00 price target for the company. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.50.

Contango ORE Trading Up 1.1%

CTGO opened at $21.40 on Wednesday. The business has a 50 day simple moving average of $21.92 and a two-hundred day simple moving average of $25.09. The firm has a market capitalization of $359.95 million, a price-to-earnings ratio of -11.63 and a beta of -0.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.27 and a quick ratio of 1.27. Contango ORE has a one year low of $16.37 and a one year high of $34.38.

Contango ORE (NYSEAMERICAN:CTGO) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.99). Analysts predict that Contango ORE will post 0.94 EPS for the current year.

Insider Transactions at Contango ORE

In other news, VP David Gregory Larimer sold 2,775 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $17.92, for a total value of $49,728.00. Following the completion of the transaction, the vice president owned 12,793 shares of the company’s stock, valued at approximately $229,250.56. This represents a 17.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nieuwenhuyse Rick Van sold 21,621 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $17.92, for a total value of $387,448.32. Following the completion of the transaction, the chief executive officer directly owned 517,140 shares of the company’s stock, valued at $9,267,148.80. This represents a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,471 shares of company stock valued at $617,720. Corporate insiders own 14.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Deutsche Bank AG grew its stake in shares of Contango ORE by 4.3% in the 4th quarter. Deutsche Bank AG now owns 10,104 shares of the company’s stock worth $267,000 after buying an additional 417 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Contango ORE by 4.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company’s stock worth $592,000 after buying an additional 1,000 shares during the last quarter. Strs Ohio purchased a new stake in shares of Contango ORE in the 4th quarter worth approximately $29,000. AlphaQuest LLC grew its stake in shares of Contango ORE by 30.7% in the 3rd quarter. AlphaQuest LLC now owns 5,564 shares of the company’s stock worth $139,000 after buying an additional 1,308 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Contango ORE by 129.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock worth $58,000 after buying an additional 1,311 shares during the last quarter. Institutional investors own 19.14% of the company’s stock.

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.