Contango ORE (NYSEAMERICAN:CTGO) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Contango ORE, Inc. (NYSEAMERICAN:CTGO)’s stock price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $24.98 and traded as low as $24.95. Contango ORE shares last traded at $27.19, with a volume of 443,530 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on CTGO shares. Canaccord Genuity Group initiated coverage on shares of Contango ORE in a report on Thursday, March 26th. They set a “buy” rating and a $32.00 price target on the stock. Zacks Research raised Contango ORE from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.50.

Contango ORE Stock Up 10.3%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.19. The business has a fifty day simple moving average of $22.79 and a two-hundred day simple moving average of $24.98. The company has a market cap of $457.34 million, a PE ratio of -9.41 and a beta of -0.02.

Insider Activity at Contango ORE

In other news, VP David Gregory Larimer sold 2,775 shares of the business’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 $49,728.00. Following the transaction, the vice president directly owned 12,793 shares in the company, valued at $229,250.56. The trade was a 17.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $17.92, for a total value of $387,448.32. Following the completion of the sale, the chief executive officer owned 517,140 shares of the company’s stock, valued at $9,267,148.80. This trade represents a 4.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 34,471 shares of company stock valued at $617,720. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of Contango ORE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in shares of Contango ORE by 26.0% during the 1st quarter. Bank of New York Mellon Corp now owns 44,579 shares of the company’s stock valued at $836,000 after acquiring an additional 9,210 shares during the last quarter. Strs Ohio increased its holdings in shares of Contango ORE by 154.5% during the 1st quarter. Strs Ohio now owns 2,800 shares of the company’s stock worth $52,000 after buying an additional 1,700 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Contango ORE during the 4th quarter valued at approximately $211,000. TMB Capital Partners LLC acquired a new position in Contango ORE in the fourth quarter valued at approximately $475,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in shares of Contango ORE in the 4th quarter valued at $203,000. 19.14% of the stock is owned by institutional investors and hedge funds.

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.