Contango ORE (NYSEAMERICAN:CTGO) Stock Price Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Contango ORE shares fell below their 200-day moving average of $21.45, trading as low as $19.57 and last changing hands at $19.60.
• Analysts maintain a consensus “Moderate Buy” rating, with two Buy ratings and one Hold rating and an average price target of $33.50. However, the company reported a quarterly loss of $0.83 per share, missing estimates by $0.99.
• CEO Rick Van Nieuwenhuyse purchased 4,111 shares worth approximately $62,652, while institutional investors own 19.14% of the company’s stock.

Shares of Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.45 and traded as low as $19.57. Contango ORE shares last traded at $19.60, with a volume of 324,395 shares.

Analyst Ratings Changes

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

Contango ORE Stock Down 1.7%

The company has a market capitalization of $634.45 million, a P/E ratio of -10.65 and a beta of -0.01. The company has a 50-day moving average of $16.59 and a two-hundred day moving average of $21.45. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.07.

Contango ORE (NYSEAMERICAN:CTGO - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.99). On average, research analysts predict that Contango ORE, Inc. will post 0.94 EPS for the current year.

Insider Buying and Selling at Contango ORE

In other Contango ORE news, CEO Nieuwenhuyse Rick Van bought 4,111 shares of Contango ORE stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $15.24 per share, with a total value of $62,651.64. Following the transaction, the chief executive officer directly owned 555,251 shares of the company's stock, valued at $8,462,025.24. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Contango ORE

Several hedge funds have recently bought and sold shares of CTGO. Deutsche Bank AG grew its holdings in Contango ORE by 4.3% in the fourth quarter. Deutsche Bank AG now owns 10,104 shares of the company's stock worth $267,000 after purchasing an additional 417 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Contango ORE by 4.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 22,400 shares of the company's stock valued at $592,000 after purchasing an additional 1,000 shares during the last quarter. Strs Ohio purchased a new position in shares of Contango ORE during the fourth quarter valued at approximately $29,000. Russell Investments Group Ltd. boosted its position in shares of Contango ORE by 129.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,320 shares of the company's stock worth $58,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position 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. 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.

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