Globeflex Capital L P Acquires New Stake in Contango ORE, Inc. $CTGO

Globeflex Capital L P acquired a new stake in Contango ORE, Inc. (NYSEAMERICAN:CTGO) in the fourth quarter, Holdings Channel reports. The firm acquired 34,565 shares of the company’s stock, valued at approximately $913,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTGO. Strs Ohio acquired a new stake in Contango ORE in the fourth quarter valued at $29,000. Quarry LP acquired a new stake in Contango ORE in the third quarter valued at $38,000. Tower Research Capital LLC TRC increased its holdings 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 purchasing an additional 1,327 shares during the period. Russell Investments Group Ltd. increased its holdings in Contango ORE by 129.9% in the third quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company’s stock valued at $58,000 after purchasing an additional 1,311 shares during the period. Finally, Bank of America Corp DE increased its holdings in Contango ORE by 40.1% in the fourth quarter. Bank of America Corp DE now owns 10,262 shares of the company’s stock valued at $103,000 after purchasing an additional 2,936 shares during the period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Contango ORE Stock Performance

Shares of Contango ORE stock opened at $18.71 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $21.73 and a two-hundred day moving average price of $24.94. Contango ORE, Inc. has a 1-year low of $16.37 and a 1-year high of $34.38. The company has a market cap of $605.64 million, a P/E ratio of -10.17 and a beta of -0.06.

Contango ORE (NYSEAMERICAN:CTGO) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.99). As a group, analysts anticipate that Contango ORE, Inc. will post 0.94 EPS for the current year.

Insiders Place Their Bets

In other Contango ORE news, CFO Michael Aaron Clark sold 10,075 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $17.92, for a total transaction of $180,544.00. Following the completion of the sale, the chief financial officer directly owned 39,798 shares in the company, valued at approximately $713,180.16. This trade represents a 20.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Gregory Larimer sold 2,775 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $17.92, for a total value of $49,728.00. Following the sale, the vice president owned 12,793 shares of the company’s stock, valued at approximately $229,250.56. The trade was a 17.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 34,471 shares of company stock worth $617,720. Company insiders own 14.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTGO. Canaccord Genuity Group began coverage on Contango ORE in a report on Thursday, March 26th. They issued a “buy” rating and a $32.00 price objective for the company. Zacks Research upgraded Contango ORE to a “hold” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Contango ORE currently has an average rating of “Moderate Buy” and a consensus price target of $33.50.

Contango ORE 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.