Contango ORE (NYSEAMERICAN:CTGO) Posts Quarterly Earnings Results, Misses Expectations By $3.92 EPS

Contango ORE (NYSEAMERICAN:CTGO) announced its earnings results on Monday. The company reported ($3.79) EPS for the quarter, missing the consensus estimate of $0.13 by ($3.92), FiscalAI reports.

Contango ORE Price Performance

Contango ORE stock opened at $22.73 on Tuesday. The business has a 50-day simple moving average of $28.29 and a 200 day simple moving average of $25.65. Contango ORE has a 52 week low of $9.22 and a 52 week high of $34.38. The stock has a market cap of $344.13 million, a price-to-earnings ratio of 227.30 and a beta of -0.34. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

Separately, Zacks Research raised Contango ORE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Insider Activity

In other Contango ORE news, CEO Nieuwenhuyse Rick Van sold 19,608 shares of Contango ORE stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $26.00, for a total transaction of $509,808.00. Following the completion of the sale, the chief executive officer directly owned 538,761 shares in the company, valued at $14,007,786. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Aaron Clark sold 10,097 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total transaction of $262,522.00. Following the completion of the transaction, the chief financial officer directly owned 49,873 shares of the company’s stock, valued at approximately $1,296,698. This represents a 16.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Contango ORE

A number of hedge funds and other institutional investors have recently modified their holdings of CTGO. Quarry LP bought a new stake in shares of Contango ORE in the third quarter worth $38,000. Federated Hermes Inc. raised its position in shares of Contango ORE by 435.2% during the fourth quarter. Federated Hermes Inc. now owns 1,884 shares of the company’s stock valued at $50,000 after buying an additional 1,532 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Contango ORE in the fourth quarter worth $51,000. Tower Research Capital LLC TRC boosted its position in shares of Contango ORE by 141.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock worth $44,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Contango ORE by 129.9% during the third quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock worth $58,000 after acquiring an additional 1,311 shares during the last quarter. 19.14% of the stock is currently owned by hedge funds and other institutional investors.

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.