Contango Ore (NYSEAMERICAN:CTGO) Announces Earnings Results, Beats Estimates By $1.00 EPS

Contango Ore (NYSEAMERICAN:CTGOGet Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($1.51) by $1.00, reports.

Contango Ore Stock Performance

Shares of NYSEAMERICAN:CTGO opened at $20.29 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 0.28 and a quick ratio of 4.02. Contango Ore has a 1 year low of $14.03 and a 1 year high of $33.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTGO. Fundamental Research set a $29.67 price target on Contango Ore and gave the stock a “buy” rating in a research note on Tuesday. Cormark started coverage on Contango Ore in a report on Friday, March 22nd. They set a “buy” rating and a $27.50 price target for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $38.00 price target on shares of Contango Ore in a research note on Thursday.

Get Our Latest Stock Analysis on CTGO

Insiders Place Their Bets

In related news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $20.06, for a total transaction of $123,629.78. Following the transaction, the chief executive officer now owns 493,733 shares in the company, valued at $9,904,283.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Contango Ore news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $20.06, for a total value of $123,629.78. Following the transaction, the chief executive officer now directly owns 493,733 shares of the company’s stock, valued at $9,904,283.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Shortz sold 3,635 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $20.64, for a total transaction of $75,026.40. Following the sale, the director now directly owns 99,947 shares of the company’s stock, valued at approximately $2,062,906.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,045 shares of company stock valued at $605,171. 17.80% of the stock is owned by insiders.

Institutional Trading of Contango Ore

Several hedge funds have recently bought and sold shares of the stock. Mather Group LLC. purchased a new position in shares of Contango Ore during the 1st quarter valued at $28,000. Bank of New York Mellon Corp lifted its position in shares of Contango Ore by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 11,190 shares of the company’s stock valued at $203,000 after acquiring an additional 621 shares in the last quarter. Wittenberg Investment Management Inc. boosted its stake in shares of Contango Ore by 17.4% in the third quarter. Wittenberg Investment Management Inc. now owns 24,323 shares of the company’s stock worth $441,000 after acquiring an additional 3,600 shares during the period. Luminus Management LLC bought a new position in shares of Contango Ore in the third quarter worth about $509,000. Finally, Vanguard Group Inc. grew its position in shares of Contango Ore by 6.7% during the first quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares in the last quarter. Institutional investors own 19.14% of the company’s stock.

About Contango Ore

(Get Free Report)

Contango Ore, Inc, an exploration stage company, engages in the exploration and development of mineral properties in Alaska, the United States. It primarily explores for gold, silver, and copper ores. The company was founded in 2009 and is headquartered in Fairbanks, Alaska.

Further Reading

Earnings History for Contango Ore (NYSEAMERICAN:CTGO)

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