Contango ORE (NYSEAMERICAN:CTGO) Upgraded to “Hold” at Zacks Research

Contango ORE (NYSEAMERICAN:CTGO) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Contango ORE Trading Down 3.8%

NYSEAMERICAN:CTGO opened at $27.58 on Tuesday. Contango ORE has a 52 week low of $8.85 and a 52 week high of $34.38. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s fifty day moving average is $28.13 and its 200-day moving average is $24.30. The firm has a market cap of $412.60 million, a P/E ratio of 275.80 and a beta of -0.35.

Insider Transactions at Contango ORE

In other Contango ORE news, CEO Nieuwenhuyse Rick Van sold 19,608 shares of Contango ORE stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $26.00, for a total value of $509,808.00. Following the completion of the sale, the chief executive officer directly owned 538,761 shares in the company, valued at approximately $14,007,786. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Aaron Clark sold 10,097 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $26.00, for a total value of $262,522.00. Following the completion of the transaction, the chief financial officer directly owned 49,873 shares in the company, valued at approximately $1,296,698. This trade represents a 16.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is owned by insiders.

Institutional Trading of Contango ORE

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTGO. Strs Ohio bought a new position in Contango ORE in the fourth quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Contango ORE during the third quarter worth approximately $38,000. Mather Group LLC. bought a new position in shares of Contango ORE in the 3rd quarter worth $39,000. Tower Research Capital LLC TRC lifted its holdings in shares of Contango ORE by 141.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,264 shares of the company’s stock worth $44,000 after purchasing an additional 1,327 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position 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 during the period. 19.14% of the stock is owned by institutional investors.

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.