Insider Selling: Contango ORE (NYSEAMERICAN:CTGO) CFO Sells $26,991.66 in Stock

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

Contango ORE Stock Performance

Shares of CTGO opened at $20.01 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.27 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $17.10 and a two-hundred day moving average of $20.94. Contango ORE, Inc. has a 12-month low of $14.50 and a 12-month high of $34.38. The stock has a market cap of $647.72 million, a P/E ratio of -6.81 and a beta of -0.01.

Contango ORE (NYSEAMERICAN:CTGO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.14 earnings per share (EPS) 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.

Institutional Trading of Contango ORE

Hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new position in Contango ORE in the 4th quarter worth $29,000. Quarry LP bought a new position in Contango ORE during the 3rd quarter worth approximately $38,000. Federated Hermes Inc. lifted its stake in Contango ORE by 435.2% during the fourth quarter. Federated Hermes Inc. now owns 1,884 shares of the company’s stock worth $50,000 after purchasing an additional 1,532 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Contango ORE in the 4th quarter worth about $51,000. Finally, Tower Research Capital LLC TRC boosted 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 acquiring an additional 1,327 shares during the period. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Contango ORE to a “hold” rating in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average 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.