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Contango ORE (CTGO)
:CTGO
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Earnings Data
Report Date
―TBA Not Confirmed
Period Ending
―Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 07, 2020
|% Change Since: -43.01%
|Next Earnings Date:Feb 08, 2019
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While there were strong operational achievements and improvements in cash flow, the company faced financial losses due to hedging and tax expenses. The sentiment is cautious with a focus on debt reduction and potential impacts from gold price volatility.Company Guidance
During the Q3 2024 earnings call for Contango Ore, several key metrics and guidance figures were discussed. The company reported production of just under 28,000 ounces of gold in Q3, realizing an average price of $2,250 per ounce, leading to sales of over $62 million. The cost per ounce was $1,181, resulting in a margin of approximately $1,000 per ounce. Additionally, Contango received a $19.5 million distribution from the Peak Gold joint venture, ending the quarter with $36 million in cash, up from $24 million in June 2024. Looking ahead, the company expects to be at the higher end of its 2024 production guidance of 30,000 to 40,000 ounces and anticipates 2025 production to be around 60,000 ounces, pending formal guidance after a joint venture meeting. The company emphasized prioritizing debt reduction and advancing projects like Lucky Shot and Johnson Tract. The current debt stands at $52 million, with plans to reduce it to under $10 million by the end of 2025.Gold Production and Revenue
In Q3, Contango Ore produced just shy of 28,000 ounces of gold and sold it for over $62 million. The blended realized gold price was $2,250, leading to a margin of approximately $1,000 per ounce.
Cash Position and Treasury Growth
The company ended Q3 with $36 million in cash, a $12 million increase from Q2. This growth was supported by a $19.5 million distribution from the Peak Gold joint venture.
Positive Cash Flow from Operations
For the nine-month period ending September 30, 2024, the company reported positive net cash from operating activities amounting to $10.6 million, compared to net cash used of $7.7 million for the same period in 2023.
Debt Repayment Plan
Contango Ore plans to reduce its debt from $52 million to just under $10 million by the end of 2025 by paying down $42 million next year.
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CTGO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CTGO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $18.02 | $17.87 | -0.83% |
| Aug 13, 2024 | $19.73 | $18.84 | -4.51% |
| Sep 13, 2023 | $17.37 | $17.85 | +2.76% |
| May 11, 2022 | $23.20 | $23.40 | +0.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Contango ORE (CTGO) report earnings?
Currently, no data Available
What is Contango ORE (CTGO) earnings time?
Currently, no data Available
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CTGO EPS forecast?
Currently, no data Available
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