Michael Aaron Clark Sells 10,097 Shares of Contango ORE (NYSEAMERICAN:CTGO) Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CFO Michael Aaron Clark sold 10,097 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $26.00, for a total transaction of $262,522.00. Following the transaction, the chief financial officer owned 49,873 shares in the company, valued at approximately $1,296,698. The trade was a 16.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Contango ORE Stock Down 0.0%

NYSEAMERICAN CTGO opened at $25.99 on Friday. Contango ORE, Inc. has a twelve month low of $8.85 and a twelve month high of $30.22. The stock has a market cap of $388.81 million, a PE ratio of 259.90 and a beta of -0.35. The firm has a 50-day simple moving average of $25.12 and a 200 day simple moving average of $23.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.14.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research cut Contango ORE from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Roth Capital reiterated a “buy” rating and set a $35.00 price target on shares of Contango ORE in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $32.34.

Hedge Funds Weigh In On Contango ORE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new stake in Contango ORE in the third quarter valued at $36,772,000. Franklin Resources Inc. boosted its stake in shares of Contango ORE by 223.2% in the 3rd quarter. Franklin Resources Inc. now owns 726,350 shares of the company’s stock valued at $18,108,000 after purchasing an additional 501,641 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Contango ORE in the 3rd quarter worth about $8,531,000. Squarepoint Ops LLC increased its position in shares of Contango ORE by 428.4% during the 3rd quarter. Squarepoint Ops LLC now owns 91,920 shares of the company’s stock worth $2,292,000 after purchasing an additional 74,523 shares in the last quarter. Finally, Minerva Advisors LLC lifted its holdings in Contango ORE by 8.6% during the 2nd quarter. Minerva Advisors LLC now owns 76,147 shares of the company’s stock valued at $1,487,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors own 19.14% of the company’s stock.

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.