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Rick Van Nieuwenhuyse, President and CEO of Contango ORE, Inc. (AMEX:CTGO), recently acquired 10,000 shares of the company’s common stock, valued at approximately $99,800. The purchase took place on March 25, 2025, at a weighted average price of $9.98 per share, near the stock’s 52-week low of $8.85. The timing is notable as shares have declined nearly 50% over the past six months. According to InvestingPro analysis, analysts maintain optimistic price targets ranging from $17.30 to $30.00 per share. This transaction increased Van Nieuwenhuyse’s total direct ownership to 545,869 shares.
The acquisition was executed in multiple transactions, with share prices ranging from $9.91 to $10.00. This move signals a continued commitment to the company by its top executive, as Van Nieuwenhuyse remains both a director and officer at Contango ORE.
In other recent news, Contango ORE Inc. reported a notable earnings performance for Q4 2024, with earnings per share (EPS) significantly surpassing expectations. The company posted an EPS of $1.36, well above the forecasted $0.08. However, revenue for the quarter fell short, reaching $8.5 million compared to the anticipated $12.33 million. Despite the revenue miss, Contango ORE highlighted positive cash flow and a reduction in debt from $60 million to $38 million, with plans to further decrease it to $15 million by the end of 2025. The company also reported producing nearly 42,000 ounces of gold in 2024, with a projection of 60,000 ounces for 2025.
Analysts noted the company’s strategic focus on increasing gold production and leveraging its direct shipping ore model. Additionally, Contango ORE’s management emphasized their objective to be debt-free and hedge-free by 2026 or early 2027. The company’s operational performance and strategic initiatives have garnered attention, reflecting investor confidence despite challenges such as derivative losses and cash cost pressures.
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