Analyst Tate Sullivan from Maxim Group reiterated a Buy rating on Contango ORE and keeping the price target at $35.00.
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Tate Sullivan’s rating is based on several positive developments for Contango ORE. The company reported stronger-than-expected free cash flow in the third quarter of 2025, primarily due to favorable timing of gold price hedge payments. This financial performance exceeded previous forecasts and highlights the company’s effective cash management.
Additionally, Contango ORE is set to begin drilling at its second gold project in Alaska by the end of 2025, which is anticipated to significantly boost future production. The company also successfully raised $50 million in equity capital, which will support the development of additional projects. Trading at a favorable valuation relative to its free cash flow forecasts, these strategic initiatives and financial metrics underpin Sullivan’s Buy rating and the $35 price target for the stock.
According to TipRanks, Sullivan is a 2-star analyst with an average return of 0.4% and a 47.98% success rate. Sullivan covers the Industrials sector, focusing on stocks such as Seanergy Maritime, ABM Industries, and Tetra Tech.
In another report released today, Roth MKM also maintained a Buy rating on the stock with a $35.00 price target.