Royal Bank of Canada Grows Stake in Contango ORE, Inc. $CTGO

Royal Bank of Canada raised its position in Contango ORE, Inc. (NYSEAMERICAN:CTGO) by 6,539.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,392 shares of the company’s stock after acquiring an additional 50,618 shares during the quarter. Royal Bank of Canada’s holdings in Contango ORE were worth $963,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTGO. Bank of America Corp DE lifted its position in shares of Contango ORE by 40.1% during the fourth quarter. Bank of America Corp DE now owns 10,262 shares of the company’s stock worth $103,000 after purchasing an additional 2,936 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Contango ORE by 235.9% in the second quarter. JPMorgan Chase & Co. now owns 18,585 shares of the company’s stock valued at $362,000 after buying an additional 13,052 shares during the last quarter. Rhumbline Advisers raised its stake in Contango ORE by 24.1% during the second quarter. Rhumbline Advisers now owns 13,838 shares of the company’s stock valued at $270,000 after buying an additional 2,690 shares in the last quarter. Walleye Capital LLC acquired a new stake in Contango ORE during the second quarter valued at approximately $232,000. Finally, Occudo Quantitative Strategies LP bought a new position in Contango ORE during the 2nd quarter worth approximately $230,000. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Contango ORE Stock Performance

CTGO opened at $20.01 on Friday. The business’s 50 day moving average is $17.10 and its 200-day moving average is $20.94. The stock has a market cap of $647.72 million, a PE ratio of -6.81 and a beta of -0.01. The company has a current ratio of 1.06, a quick ratio of 1.27 and a debt-to-equity ratio of 0.06. Contango ORE, Inc. has a twelve month low of $14.50 and a twelve month high of $34.38.

Contango ORE (NYSEAMERICAN:CTGO) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.18. On average, analysts predict that Contango ORE, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Aaron Clark sold 1,289 shares of Contango ORE stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $20.94, for a total transaction of $26,991.66. Following the transaction, the chief financial officer directly owned 54,709 shares in the company, valued at approximately $1,145,606.46. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nieuwenhuyse Rick Van acquired 4,111 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $15.24 per share, with a total value of $62,651.64. Following the acquisition, the chief executive officer owned 555,251 shares of the company’s stock, valued at approximately $8,462,025.24. This trade represents a 0.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 5.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Contango ORE to a “hold” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.