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Investing.com - Freedom Capital Markets raised its price target on Contango Ore (NYSE:CTGO) to $41.00 from $34.80 on Monday while maintaining a Buy rating on the gold mining company’s shares.
The price target increase follows Contango Ore’s strong third-quarter 2025 results, which Freedom Capital noted exceeded expectations across virtually all key metrics.
The mining company reported record income from operations during the quarter along with substantially higher cash distributions, according to Freedom Capital’s analysis.
Despite the strong Q3 performance, Contango Ore maintained its full-year 2025 guidance unchanged, which Freedom Capital interprets as implying somewhat weaker results for the fourth quarter.
Freedom Capital also referenced a recent conversation with Contango Ore CEO Rick Van Nieuwenhuyse, which the firm said reinforces the positive operational trajectory it had highlighted in previous reports.
In other recent news, Contango ORE, Inc. reported a significant earnings beat for the third quarter of 2025. The company’s earnings per share (EPS) reached $2.04, which was a substantial increase over the projected $0.465, representing a surprise of 338.71%. Despite this earnings success, the company’s stock experienced a decline. Additionally, Contango ORE announced the commencement of its Lucky Shot drill program, which is intended to support the completion of a feasibility study. This program involves four phases of underground drift drilling and surface exploration, targeting 18,000 meters across 210 drill holes. The aim is to upgrade the Lucky Shot vein resource to the Proven and Probable categories. These developments reflect Contango ORE’s ongoing efforts to enhance its operational capabilities and financial performance.
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