Insider Selling: Contango ORE (NYSEAMERICAN:CTGO) CFO Sells 10,097 Shares of Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CFO Michael Aaron Clark sold 10,097 shares of the business’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 $262,522.00. Following the transaction, the chief financial officer owned 49,873 shares of the company’s stock, valued at $1,296,698. This trade represents a 16.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Contango ORE Stock Down 0.0%

Shares of CTGO traded down $0.01 during midday trading on Friday, reaching $25.99. The stock had a trading volume of 202,293 shares, compared to its average volume of 234,743. The company has a market cap of $388.81 million, a price-to-earnings ratio of 259.90 and a beta of -0.35. The company’s fifty day simple moving average is $25.03 and its two-hundred day simple moving average is $22.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.14 and a quick ratio of 1.14. Contango ORE, Inc. has a 1-year low of $8.85 and a 1-year high of $30.22.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTGO shares. Roth Capital restated a “buy” rating and set a $35.00 target price on shares of Contango ORE in a research note on Tuesday, September 30th. Zacks Research lowered Contango ORE from a “hold” rating to a “strong sell” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Contango ORE presently has an average rating of “Hold” and an average price target of $32.34.

Hedge Funds Weigh In On Contango ORE

A number of large investors have recently bought and sold shares of CTGO. Quarry LP purchased a new stake in shares of Contango ORE in the third quarter valued at about $38,000. Mather Group LLC. acquired a new stake in Contango ORE in the third quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its holdings in Contango ORE by 141.6% in the 2nd 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in Contango ORE by 129.9% in the 3rd 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 in the last quarter. Finally, AlphaQuest LLC acquired a new position in Contango ORE during the 2nd quarter worth approximately $83,000. Hedge funds and other 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.