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Contango ORE (CTGO)
:CTGO
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:Nov 14, 2024
|% Change Since: 2.85%
|Next Earnings Date:Mar 17, 2025
Earnings Call Sentiment|Neutral
The earnings call provided a balanced view of Contango's performance in 2024. The company experienced significant successes, such as exceeding gold production guidance and achieving positive cash flow, which allowed for substantial debt reduction. However, challenges remained, including slightly higher cash costs and significant losses from hedge contracts. The sentiment is mixed with both positive achievements and operational challenges.Company Guidance
During the call, Contango provided an overview of their fiscal year 2024 performance and offered guidance for 2025. The company exceeded its gold production guidance by over 25%, producing nearly 42,000 ounces at a cash cost slightly above the $1,200 per ounce guidance. For 2025, Contango projects a gold production of about 60,000 ounces. The company reported positive operating cash flow in 2024, with a focus on using excess cash to pay down debt and deliver hedges, aiming to be debt and hedge-free by the end of 2026, though they have the flexibility to extend into mid-2027. The hedge delivery is planned to be reduced from 86,000 ounces to 43,000 ounces by the end of 2025. Contango started 2024 with $60 million in debt, reduced to $38 million by early 2025, and expects to end the year with $15 million remaining. The company also aims to maintain an all-in sustaining cost (AISC) between $1,200 and $1,600 per ounce for 2025.Exceeding Gold Production Guidance
Manh Choh exceeded production guidance by over 25% in 2024, producing just shy of 42,000 ounces of gold, surpassing the initial guidance of 30,000 to 35,000 ounces.
Positive Operating Cash Flow
The company reported positive operating cash flow for 2024, with plans to use the excess cash to pay down debt and deliver hedges, aiming to be debt-free and hedge-free by the end of 2026.
Debt Reduction Progress
The debt was reduced from $60 million at the start of 2024 to $38 million by the time of the call, with a projection to further reduce it to $15 million by the end of the year.
Improvement in Hedge Status
The company started with 124,000 ounces of gold hedges and reduced it to 86,000 ounces by the end of 2024, with plans to cut it in half by the end of 2025.
Successful Integration of Johnson Tract
The acquisition of Johnson Tract was deemed successful with no buyer's remorse, integrating well with Contango's business model.
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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 |
|---|---|---|---|
| Mar 17, 2025 | $9.49 | $10.66 | +12.33% |
| 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% |
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?
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What is CTGO EPS forecast?
Currently, no data Available
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