Roth MKM raised the firm’s price target on Contango Ore to $37 from $33 and keeps a Buy rating on the shares. The company is executing on its Direct Shipping Ore business plan, securing permittable projects with grades sufficient to cover transportation costs to feed mills with excess capacity, and also receiving cash dividends from gold production at the Manh Choh gold project in Alaska, the analyst tells investors in a research note. Contango offers a “clear path” to becoming a mid-tier producer, the firm added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTGO:
- Contango ORE Strengthens Leadership and Secures Cash Distribution
- Contango Ore receives $19.5M cash distribution from Peak Gold JV
- Contango ORE Launches Gold Production, Expects Strong Financials
- Contango Ore JV announces processing Campaign #2 of Manh Choh ore in Alaska
- Contango ORE Signals Growth with Manh Choh Mine Results