GSA Capital Partners LLP Acquires New Position in Contango ORE, Inc. $CTGO

GSA Capital Partners LLP acquired a new stake in Contango ORE, Inc. (NYSEAMERICAN:CTGO) during the 3rd quarter, HoldingsChannel reports. The firm acquired 22,992 shares of the company’s stock, valued at approximately $573,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AlphaQuest LLC grew its holdings in shares of Contango ORE by 30.7% during the 3rd quarter. AlphaQuest LLC now owns 5,564 shares of the company’s stock valued at $139,000 after acquiring an additional 1,308 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Contango ORE by 141.6% during the second quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock valued at $44,000 after purchasing an additional 1,327 shares during the last quarter. Bank of America Corp DE grew its stake in Contango ORE by 22.6% in the second quarter. Bank of America Corp DE now owns 8,038 shares of the company’s stock valued at $157,000 after purchasing an additional 1,481 shares in the last quarter. Mather Group LLC. purchased a new position in Contango ORE in the third quarter valued at about $39,000. Finally, Rhumbline Advisers increased its position in Contango ORE by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock worth $270,000 after purchasing an additional 2,690 shares during the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Contango ORE Trading Up 3.9%

Shares of NYSEAMERICAN:CTGO opened at $28.91 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $437.70 million, a PE ratio of 289.10 and a beta of -0.35. Contango ORE, Inc. has a 1 year low of $8.85 and a 1 year high of $34.38. The firm has a fifty day moving average price of $28.52 and a 200 day moving average price of $25.03.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Contango ORE from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Contango ORE presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Transactions at Contango ORE

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

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.