Contango ORE (NYSEAMERICAN:CTGO) Shares Cross Below 200-Day Moving Average – Should You Sell?

Contango ORE, Inc. (NYSEAMERICAN:CTGO) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.27 and traded as low as $15.15. Contango ORE shares last traded at $15.48, with a volume of 459,608 shares changing hands.

Analysts Set New Price Targets

Separately, Zacks Research raised Contango ORE to a “hold” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Contango ORE Trading Down 1.9%

The firm’s 50-day moving average is $17.02 and its 200 day moving average is $22.27. 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 firm has a market capitalization of $501.09 million, a price-to-earnings ratio of -8.41 and a beta of -0.02.

Contango ORE (NYSEAMERICAN:CTGO) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.99). On average, equities analysts predict that Contango ORE, Inc. will post 0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Contango ORE

In related news, CEO Nieuwenhuyse Rick Van acquired 4,111 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $15.24 per share, for a total transaction of $62,651.64. Following the completion of the acquisition, the chief executive officer directly owned 555,251 shares of the company’s stock, valued at approximately $8,462,025.24. This trade represents a 0.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 5.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Contango ORE

A number of institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its stake in shares of Contango ORE by 4.3% in the fourth quarter. Deutsche Bank AG now owns 10,104 shares of the company’s stock valued at $267,000 after buying an additional 417 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Contango ORE by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company’s stock worth $592,000 after acquiring an additional 1,000 shares during the period. Strs Ohio bought a new stake in Contango ORE in the fourth quarter valued at approximately $29,000. Russell Investments Group Ltd. boosted 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 acquiring an additional 1,311 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Contango ORE by 141.6% during 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 during the period. Institutional investors own 19.14% 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.