Nieuwenhuyse Rick Van Purchases 4,111 Shares of Contango ORE (NYSEAMERICAN:CTGO) Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van purchased 4,111 shares of Contango ORE stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $15.24 per share, for a total transaction of $62,651.64. Following the completion of the acquisition, the chief executive officer owned 555,251 shares of the company’s stock, valued at approximately $8,462,025.24. The trade was a 0.75% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Contango ORE Stock Up 5.5%

Shares of NYSEAMERICAN CTGO opened at $15.74 on Friday. The company has a 50 day simple moving average of $20.40 and a 200 day simple moving average of $24.13. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.27 and a quick ratio of 1.27. Contango ORE, Inc. has a 1 year low of $14.50 and a 1 year high of $34.38. The firm has a market cap of $509.50 million, a PE ratio of -8.55 and a beta of -0.06.

Contango ORE (NYSEAMERICAN:CTGO) last posted its 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). On average, research analysts forecast that Contango ORE, Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on CTGO shares. Zacks Research upgraded Contango ORE to a “hold” rating in a report on Wednesday, May 20th. Canaccord Genuity Group initiated coverage on Contango ORE in a report on Thursday, March 26th. They set a “buy” rating and a $32.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Hedge Funds Weigh In On Contango ORE

Several institutional investors have recently added to or reduced their stakes in CTGO. Alyeska Investment Group L.P. bought a new position in shares of Contango ORE during the 3rd quarter worth approximately $36,772,000. Franklin Resources Inc. lifted its position in shares of Contango ORE by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 759,709 shares of the company’s stock valued at $20,064,000 after acquiring an additional 33,359 shares during the period. Van ECK Associates Corp lifted its position in shares of Contango ORE by 17.8% during the 4th quarter. Van ECK Associates Corp now owns 403,098 shares of the company’s stock valued at $10,646,000 after acquiring an additional 60,917 shares during the period. Glazer Capital LLC bought a new position in Contango ORE during the fourth quarter worth $8,453,000. Finally, Geode Capital Management LLC boosted its stake in Contango ORE by 23.9% during the fourth quarter. Geode Capital Management LLC now owns 258,610 shares of the company’s stock worth $6,831,000 after acquiring an additional 49,947 shares in the last quarter. 19.14% of the stock is owned by institutional investors and hedge funds.

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.