Oak Ridge Investments LLC Acquires Shares of 37,340 Contango ORE, Inc. $CTGO

Oak Ridge Investments LLC bought a new position in shares of Contango ORE, Inc. (NYSEAMERICAN:CTGO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 37,340 shares of the company’s stock, valued at approximately $986,000.

Several other large investors have also recently modified their holdings of CTGO. AlphaQuest LLC raised its position in shares of Contango ORE by 30.7% in the third quarter. AlphaQuest LLC now owns 5,564 shares of the company’s stock valued at $139,000 after purchasing an additional 1,308 shares during the period. Russell Investments Group Ltd. boosted its holdings in 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 period. Tower Research Capital LLC TRC boosted its holdings in Contango ORE by 141.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock worth $44,000 after buying an additional 1,327 shares during the period. Bridgeway Capital Management LLC grew its stake in Contango ORE by 7.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 21,400 shares of the company’s stock valued at $534,000 after buying an additional 1,400 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Contango ORE by 22.6% in the 2nd quarter. Bank of America Corp DE now owns 8,038 shares of the company’s stock valued at $157,000 after buying an additional 1,481 shares in the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Contango ORE Trading Up 6.7%

Shares of CTGO opened at $25.72 on Wednesday. Contango ORE, Inc. has a twelve month low of $12.06 and a twelve month high of $34.38. The stock has a market cap of $432.61 million, a PE ratio of -8.90 and a beta of -0.15. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.19. The business’s 50-day moving average price is $24.01 and its 200-day moving average price is $25.16.

Insider Activity at Contango ORE

In related news, VP David Gregory Larimer sold 2,775 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $17.92, for a total transaction of $49,728.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Nieuwenhuyse Rick Van sold 21,621 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $17.92, for a total transaction of $387,448.32. Following the sale, the chief executive officer directly owned 517,140 shares in the company, valued at $9,267,148.80. This trade represents a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 34,471 shares of company stock valued at $617,720. Corporate insiders own 14.40% of the company’s stock.

Wall Street Analysts Forecast Growth

CTGO has been the topic of a number of analyst reports. Canaccord Genuity Group started coverage on Contango ORE in a research report on Thursday, March 26th. They set a “buy” rating and a $32.00 target price on the stock. Zacks Research upgraded Contango ORE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.50.

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.