Latest news with #CTGO
Yahoo
31-05-2025
- Business
- Yahoo
Roth Capital Lifted its Price Target for Contango Ore, Inc. (CTGO)
Roth Capital has reiterated its Buy rating on Contango Ore, Inc. (NYSE:CTGO) and increased its price objective from $22 to $26. Aerial view of a gold mine in the mountains, trees reflecting the light from the sun. According to the firm, Contango Ore, Inc. (NYSE:CTGO)'s key aim for 2025 is to manage hedging contracts and reduce debt through the strategic use of operating cash flow. It also highlighted the company's enhanced gold output in Q1 from the Manh Choh project. Roth also mentioned the firm's willingness to keep the Johnson Tract's development schedule intact and finance exploration drilling at its Lucky Shot project. Favorable exploration results and a lower cutoff grade at Manh Choh could enable a possible pit enlargement that would boost long-term cash flow and mine life. Contango Ore, Inc. (NYSE:CTGO) sold more than 17,000 ounces of gold and generated operating profits of $19 million, which included $22.3 million from the Peak Gold JV. By the end of the quarter, its debt facility balance had dropped to $30 million, and it had $35 million in cash and $4 million in marketable securities. While we acknowledge the potential of CTGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CTGO and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-05-2025
- Business
- Yahoo
Roth Capital Lifted its Price Target for Contango Ore, Inc. (CTGO)
Roth Capital has reiterated its Buy rating on Contango Ore, Inc. (NYSE:CTGO) and increased its price objective from $22 to $26. Aerial view of a gold mine in the mountains, trees reflecting the light from the sun. According to the firm, Contango Ore, Inc. (NYSE:CTGO)'s key aim for 2025 is to manage hedging contracts and reduce debt through the strategic use of operating cash flow. It also highlighted the company's enhanced gold output in Q1 from the Manh Choh project. Roth also mentioned the firm's willingness to keep the Johnson Tract's development schedule intact and finance exploration drilling at its Lucky Shot project. Favorable exploration results and a lower cutoff grade at Manh Choh could enable a possible pit enlargement that would boost long-term cash flow and mine life. Contango Ore, Inc. (NYSE:CTGO) sold more than 17,000 ounces of gold and generated operating profits of $19 million, which included $22.3 million from the Peak Gold JV. By the end of the quarter, its debt facility balance had dropped to $30 million, and it had $35 million in cash and $4 million in marketable securities. While we acknowledge the potential of CTGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CTGO and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Sign in to access your portfolio
Business Insider
17-05-2025
- Business
- Business Insider
Analysts Are Bullish on Top Materials Stocks: Contango ORE (CTGO), Idaho Strategic Resources (IDR)
There's a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Contango ORE (CTGO – Research Report) and Idaho Strategic Resources (IDR – Research Report) with bullish sentiments. Confident Investing Starts Here: Contango ORE (CTGO) Maxim Group analyst Tate Sullivan reiterated a Buy rating on Contango ORE yesterday and set a price target of $30.00. The company's shares closed last Friday at $14.76. According to Sullivan 's ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -11.6% and a 37.1% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as United Maritime Corp., Performance Shipping, and Seanergy Maritime. Currently, the analyst consensus on Contango ORE is a Moderate Buy with an average price target of $26.00. Idaho Strategic Resources (IDR) In a report released yesterday, Mike Niehuser from Roth MKM maintained a Buy rating on Idaho Strategic Resources, with a price target of $17.50. The company's shares closed last Friday at $12.60. According to Niehuser is a 3-star analyst with an average return of 2.4% and a 41.8% success rate. Niehuser covers the Basic Materials sector, focusing on stocks such as Tanzanian Royalty Exploration, Perpetua Resources, and Collective Mining. Currently, the analyst consensus on Idaho Strategic Resources is a Moderate Buy with an average price target of $17.50.
Yahoo
16-05-2025
- Business
- Yahoo
Contango Ore Inc (CTGO) Q1 2025 Earnings Call Highlights: Strategic Moves Amidst Market Challenges
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Contango Ore Inc (CTGO) recorded $19 million in income from operations, including $22.3 million in equity income from the Peak Gold JV. The company sold over 17,000 ounces of gold with an additional 3,800 ounces in recoverable inventory. Contango Ore Inc (CTGO) completed the quarter with $35 million in cash and increased marketable securities to about $4 million. The company made significant principal repayments, reducing the facility balance to $30 million. Contango Ore Inc (CTGO) has started delivering into July hedges, with about 2,800 ounces delivered so far. Contango Ore Inc (CTGO) recorded a net loss of $22.5 million for the quarter, primarily due to an unrealized loss of $40.5 million related to hedge contracts. The company's cash costs were $1,334 per ounce of gold sold, with an all-in sustaining cost (AISC) of $1,374 per ounce. The AISC is expected to increase in later quarters due to sustaining capital expenditures and a $5.7 million exploration drill program. The hedge liability increased due to rising gold prices, although the company has implemented a carry trade to manage this. The company is still facing weight restrictions on a bridge, affecting transportation logistics. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Q: Can you provide more details about the carry trade and hedge delivery schedule? A: Mike Clark, CFO: The carry trade allows us to sell gold at spot prices as shipments occur, using proceeds to pay the JV for the gold and later settle the hedge in cash with lenders. We started the quarter with 86,000 ounces of hedges and ended with the same, but the carry trade effectively reduced it to just below 75,000 ounces. As of today, it's closer to 71,000 ounces. Q: Where did the Onyx shares come from that are now worth $5 million? A: Mike Clark, CFO: We acquired 5 million shares of Onyx, initially valued at around $500,000 to $600,000. They were worth $900,000 at the end of the quarter and are now valued at about CAD 5 million. Q: Can you discuss the dismissed lawsuit and its implications? A: Rick Van Nieuwenhuyse, CEO: The lawsuit by Citizens for Safe Communities aimed to halt our truck haul program. It was pending for nearly two years, with most arguments dismissed by the court. The final argument was settled without prejudice, which is positive for our project and mining in Alaska. Q: What are the capital allocation priorities for the remainder of this year? A: Rick Van Nieuwenhuyse, CEO: Our focus is on paying down debt, delivering into hedges, and reviewing our budget. We aim to ensure sufficient cash for our main business, including permitting Johnson Tract and considering a drill program at Lucky Shot. Q: How does Contango balance the benefits of spot prices against hedge obligations? A: Mike Clark, CFO: We are selling 30% of gold at spot prices and 70% into hedges. Our focus is on delivering into hedges and managing carry trades to maintain a 70/30 ratio. By year-end, we aim to have 43,000 ounces in hedges and reduce debt to $15 million. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-05-2025
- Business
- Yahoo
Contango Ore Inc (CTGO) Q1 2025 Earnings Call Highlights: Strategic Moves Amidst Market Challenges
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Contango Ore Inc (CTGO) recorded $19 million in income from operations, including $22.3 million in equity income from the Peak Gold JV. The company sold over 17,000 ounces of gold with an additional 3,800 ounces in recoverable inventory. Contango Ore Inc (CTGO) completed the quarter with $35 million in cash and increased marketable securities to about $4 million. The company made significant principal repayments, reducing the facility balance to $30 million. Contango Ore Inc (CTGO) has started delivering into July hedges, with about 2,800 ounces delivered so far. Contango Ore Inc (CTGO) recorded a net loss of $22.5 million for the quarter, primarily due to an unrealized loss of $40.5 million related to hedge contracts. The company's cash costs were $1,334 per ounce of gold sold, with an all-in sustaining cost (AISC) of $1,374 per ounce. The AISC is expected to increase in later quarters due to sustaining capital expenditures and a $5.7 million exploration drill program. The hedge liability increased due to rising gold prices, although the company has implemented a carry trade to manage this. The company is still facing weight restrictions on a bridge, affecting transportation logistics. Warning! GuruFocus has detected 4 Warning Signs with NVDA. Q: Can you provide more details about the carry trade and hedge delivery schedule? A: Mike Clark, CFO: The carry trade allows us to sell gold at spot prices as shipments occur, using proceeds to pay the JV for the gold and later settle the hedge in cash with lenders. We started the quarter with 86,000 ounces of hedges and ended with the same, but the carry trade effectively reduced it to just below 75,000 ounces. As of today, it's closer to 71,000 ounces. Q: Where did the Onyx shares come from that are now worth $5 million? A: Mike Clark, CFO: We acquired 5 million shares of Onyx, initially valued at around $500,000 to $600,000. They were worth $900,000 at the end of the quarter and are now valued at about CAD 5 million. Q: Can you discuss the dismissed lawsuit and its implications? A: Rick Van Nieuwenhuyse, CEO: The lawsuit by Citizens for Safe Communities aimed to halt our truck haul program. It was pending for nearly two years, with most arguments dismissed by the court. The final argument was settled without prejudice, which is positive for our project and mining in Alaska. Q: What are the capital allocation priorities for the remainder of this year? A: Rick Van Nieuwenhuyse, CEO: Our focus is on paying down debt, delivering into hedges, and reviewing our budget. We aim to ensure sufficient cash for our main business, including permitting Johnson Tract and considering a drill program at Lucky Shot. Q: How does Contango balance the benefits of spot prices against hedge obligations? A: Mike Clark, CFO: We are selling 30% of gold at spot prices and 70% into hedges. Our focus is on delivering into hedges and managing carry trades to maintain a 70/30 ratio. By year-end, we aim to have 43,000 ounces in hedges and reduce debt to $15 million. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
