UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.50 Million Stock Position in Contango ORE, Inc. $CTGO

Key Points

• UBS Asset Management significantly increased its Contango ORE position by purchasing 95,000 additional shares, bringing its total to 95,339 shares worth approximately $1.50 million, or 0.29% of the company.
• Institutional investors and hedge funds own 19.14% of Contango ORE. Analysts maintain a consensus “Moderate Buy” rating with a $33.50 price target, while Zacks Research upgraded the stock to “Hold.”
• Contango ORE shares opened at $18.31, near the lower end of their 52-week range, despite the company reporting quarterly EPS of $0.14—beating consensus estimates by $0.18. The CEO bought shares, while the CFO sold a smaller portion of his holdings.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Contango ORE, Inc. (NYSEAMERICAN:CTGO - Free Report) by 28,023.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 95,339 shares of the company's stock after buying an additional 95,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of Contango ORE worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTGO. Quarry LP bought a new position in Contango ORE in the 3rd quarter worth $38,000. Federated Hermes Inc. boosted its holdings in Contango ORE by 435.2% during the fourth quarter. Federated Hermes Inc. now owns 1,884 shares of the company's stock valued at $50,000 after acquiring an additional 1,532 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Contango ORE in the fourth quarter valued at about $51,000. Tower Research Capital LLC TRC increased its stake in shares of Contango ORE by 141.6% in the second 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 during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Contango ORE by 129.9% in the third 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 during the period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research raised Contango ORE to a "hold" rating in a research report on Wednesday, May 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Contango ORE has a consensus rating of "Moderate Buy" and a consensus price target of $33.50.

Contango ORE Trading Down 3.0%

Shares of CTGO stock opened at $18.31 on Friday. Contango ORE, Inc. has a 1 year low of $14.50 and a 1 year high of $34.38. The firm's fifty day simple moving average is $18.12 and its 200 day simple moving average is $20.13. The firm has a market capitalization of $613.38 million, a P/E ratio of -6.23 and a beta of 0.04. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.06.

Contango ORE (NYSEAMERICAN:CTGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.18. As a group, sell-side analysts predict that Contango ORE, Inc. will post 0.4 EPS for the current year.

Insider Transactions at Contango ORE

In other news, CEO Nieuwenhuyse Rick Van purchased 4,111 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $15.24 per share, for a total transaction of $62,651.64. Following the completion of the purchase, the chief executive officer directly owned 555,251 shares of the company's stock, valued at approximately $8,462,025.24. The trade was a 0.75% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Aaron Clark sold 1,289 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $20.94, for a total value of $26,991.66. Following the transaction, the chief financial officer owned 54,709 shares in the company, valued at $1,145,606.46. This represents a 2.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 5.40% of the stock is currently owned by corporate insiders.

Contango ORE 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.

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