Michael Aaron Clark Sells 10,075 Shares of Contango ORE (NYSEAMERICAN:CTGO) Stock

Contango ORE, Inc. (NYSEAMERICAN:CTGO) CFO Michael Aaron Clark sold 10,075 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $17.92, for a total value of $180,544.00. Following the completion of the sale, the chief financial officer directly owned 39,798 shares in the company, valued at approximately $713,180.16. The trade was a 20.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michael Aaron Clark also recently made the following trade(s):

• On Thursday, January 8th, Michael Aaron Clark sold 10,097 shares of Contango ORE stock. The shares were sold at an average price of $26.00, for a total value of $262,522.00.

Contango ORE Price Performance

Shares of NYSEAMERICAN CTGO traded down $0.36 during midday trading on Friday, hitting $17.20. 891,558 shares of the company’s stock were exchanged, compared to its average volume of 278,904. The business’s fifty day moving average price is $27.67 and its two-hundred day moving average price is $25.52. The company has a market cap of $289.30 million, a price-to-earnings ratio of -5.95 and a beta of -0.34. The company has a current ratio of 0.90, a quick ratio of 1.14 and a debt-to-equity ratio of 1.19. Contango ORE, Inc. has a 12-month low of $9.22 and a 12-month high of $34.38.

Hedge Funds Weigh In On Contango ORE

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Contango ORE by 40.1% during the 4th quarter. Bank of America Corp DE now owns 10,262 shares of the company’s stock valued at $103,000 after purchasing an additional 2,936 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Contango ORE by 235.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,585 shares of the company’s stock worth $362,000 after buying an additional 13,052 shares during the last quarter. Rhumbline Advisers lifted its position in Contango ORE by 24.1% in the 2nd quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock worth $270,000 after buying an additional 2,690 shares during the last quarter. XTX Topco Ltd purchased a new stake in Contango ORE in the second quarter worth approximately $593,000. Finally, Minerva Advisors LLC boosted its stake in Contango ORE by 8.6% in the second quarter. Minerva Advisors LLC now owns 76,147 shares of the company’s stock worth $1,487,000 after buying an additional 6,000 shares in the last quarter. 19.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Contango ORE from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Contango ORE presently has an average rating of “Moderate Buy” and an average target price of $35.00.

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.