Insider Selling: Contango ORE (NYSEAMERICAN:CTGO) CFO Sells $26,991.66 in Stock

Key Points

• Contango ORE CFO Michael Aaron Clark sold 1,289 shares at an average price of $20.94, generating $26,991.66. He retained 54,709 shares valued at approximately $1.15 million.
• CTGO shares rose 9.7% to $21.00 in Wednesday trading, while the company reported quarterly EPS of $0.14, exceeding the consensus estimate of a $0.04 loss.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $33.50; institutional investors and hedge funds own 19.14% of the stock.

Contango ORE, Inc. (NYSEAMERICAN:CTGO - Get Free Report) CFO Michael Aaron Clark sold 1,289 shares of Contango ORE stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $20.94, for a total value of $26,991.66. Following the completion of the sale, the chief financial officer directly owned 54,709 shares of the company's stock, valued at $1,145,606.46. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Contango ORE Trading Up 9.7%

Shares of CTGO traded up $1.85 during trading hours on Wednesday, hitting $21.00. 583,757 shares of the stock traded hands, compared to its average volume of 447,494. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.07. Contango ORE, Inc. has a 1-year low of $14.50 and a 1-year high of $34.38. The firm has a market capitalization of $679.77 million, a PE ratio of -7.14 and a beta of -0.01. The business has a fifty day moving average of $16.82 and a 200-day moving average of $21.08.

Contango ORE (NYSEAMERICAN:CTGO - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.18. Analysts expect that Contango ORE, Inc. will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Contango ORE

Several institutional investors have recently modified their holdings of CTGO. Deutsche Bank AG increased its stake in 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 purchasing an additional 417 shares in the last quarter. Bridgeway Capital Management LLC boosted its position 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 worth $592,000 after purchasing an additional 1,000 shares in the last quarter. Strs Ohio acquired a new position in shares of Contango ORE in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased 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 valued at $58,000 after buying an additional 1,311 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased 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 valued at $44,000 after buying an additional 1,327 shares in the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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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