Van ECK Associates Corp Has $12.93 Million Stock Position in Contango ORE, Inc. $CTGO

Van ECK Associates Corp boosted its holdings in Contango ORE, Inc. (NYSEAMERICAN:CTGO) by 80.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 819,087 shares of the company’s stock after purchasing an additional 364,062 shares during the quarter. Van ECK Associates Corp’s holdings in Contango ORE were worth $12,933,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new stake in shares of Contango ORE in the 3rd quarter valued at $36,772,000. Franklin Resources Inc. boosted its stake in Contango ORE by 223.2% during the third quarter. Franklin Resources Inc. now owns 726,350 shares of the company’s stock worth $18,108,000 after acquiring an additional 501,641 shares in the last quarter. Glazer Capital LLC bought a new position in Contango ORE during the fourth quarter worth $8,453,000. Bank of America Corp DE grew its holdings in Contango ORE by 1,908.3% in the first quarter. Bank of America Corp DE now owns 207,841 shares of the company’s stock worth $3,897,000 after purchasing an additional 197,492 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Contango ORE by 138.6% in the fourth quarter. Renaissance Technologies LLC now owns 128,827 shares of the company’s stock worth $3,402,000 after purchasing an additional 74,827 shares during the period. 19.14% of the stock is owned by institutional investors and hedge funds.

Contango ORE Stock Up 1.2%

Shares of NYSEAMERICAN:CTGO opened at $19.50 on Tuesday. The business’s 50 day simple moving average is $17.48 and its two-hundred day simple moving average is $20.57. The firm has a market cap of $653.25 million, a P/E ratio of -6.63 and a beta of -0.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.06 and a current ratio of 1.06. Contango ORE, Inc. has a 52-week low of $14.50 and a 52-week high of $34.38.

Contango ORE (NYSEAMERICAN:CTGO) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.18. As a group, research analysts forecast that Contango ORE, Inc. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Contango ORE news, CEO Nieuwenhuyse Rick Van purchased 4,111 shares of Contango ORE stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $15.24 per share, with a total value of $62,651.64. Following the transaction, the chief executive officer owned 555,251 shares in the company, valued at $8,462,025.24. This trade represents a 0.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Aaron Clark sold 1,289 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were 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 of the company’s stock, valued at $1,145,606.46. This trade represents a 2.30% decrease in their position. The SEC filing for this sale provides additional information. 5.40% of the stock is owned by company insiders.

About Contango ORE

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.