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 stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $20.94, for a total transaction of $26,991.66. Following the sale, the chief financial officer owned 54,709 shares in the company, valued at $1,145,606.46. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Contango ORE Stock Performance

Shares of NYSEAMERICAN:CTGO opened at $20.33 on Friday. Contango ORE, Inc. has a 1 year low of $14.50 and a 1 year high of $34.38. The stock has a market capitalization of $658.08 million, a price-to-earnings ratio of -6.91 and a beta of -0.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.06 and a quick ratio of 1.27. The company’s 50 day simple moving average is $17.03 and its 200 day simple moving average is $20.95.

Contango ORE (NYSEAMERICAN:CTGO) last released its earnings results on Thursday, August 13th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.18. As a group, research analysts predict that Contango ORE, Inc. will post 0.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Contango ORE

Several large investors have recently modified their holdings of CTGO. Deutsche Bank AG increased its holdings in Contango ORE by 4.3% in the fourth quarter. Deutsche Bank AG now owns 10,104 shares of the company’s stock valued at $267,000 after purchasing an additional 417 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Contango ORE by 4.7% during 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 period. Strs Ohio acquired a new position in Contango ORE during the 4th quarter worth about $29,000. Russell Investments Group Ltd. grew its position 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 valued at $58,000 after buying an additional 1,311 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Contango ORE by 141.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock valued at $44,000 after buying an additional 1,327 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.