Contango ORE (CTGO) AI Stock Analysis

• Market Cap: $455.93M
• Dividend Yield: N/A
• Average Volume (3M): 224.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.69
• Revenue Growth: N/A
• EPS Growth: 97.09%
• Country: US
• Employees: 12
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): 2.04
• Shares Outstanding: 15,491,918
• 10 Day Avg. Volume: 211,406
• 30 Day Avg. Volume: 224,800
• PEG Ratio: 0.09
• Price to Book (P/B): 166.79
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 303.67
• Enterprise Value/Market Cap: 0.53
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -760.60
• Enterprise Value/Ebitda: -9.87
• 1Y Price Target: $35.00
• Price Target Upside: 18.72% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 3.9
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: $29.00 ▼(-1.63% Downside)

The score is supported by a strong technical uptrend and positive earnings-call/corporate-event momentum (record operating income, materially higher cash, and strategic project/merger catalysts). Offsetting these are weaker financial statement quality (no revenue and volatile losses despite strong TTM cash flow) and unattractive valuation optics driven by a negative P/E and no dividend yield.

Positive Factors

Gold Production Exceeding Guidance

Exceeding production targets strengthens Contango's market position and demonstrates operational efficiency, enhancing long-term growth prospects.

Debt Reduction

Reducing debt improves financial stability and flexibility, allowing Contango to reinvest in growth opportunities and manage risks more effectively.

Successful Integration of Johnson Tract

Successful integration of new assets like Johnson Tract can enhance resource base and operational synergies, supporting long-term strategic goals.

Negative Factors

High Cash Costs

Higher cash costs can pressure margins, reducing profitability and potentially impacting the company's ability to invest in future growth.

Hedge Loss Impact

Significant hedge losses can strain financial resources and indicate potential volatility in earnings, affecting long-term financial planning.

Limited Exploration Results

Limited exploration success may hinder resource expansion, impacting future production potential and long-term growth prospects.

Contango ORE Business Overview & Revenue Model

Company Description

Contango Ore, Inc., an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and approximately 13,000 State of Alaska mining claims for exploration and development; and owns 100% interest in the mineral rights to approximately 200,000 acres of State of Alaska mining claims located north and northwest of the Tetlin Lease. The company also holds interest in the Shamrock property that consists of 361 Alaska state mining claims covering approximately 52,640 acres. Contango Ore, Inc. was founded in 2009 and is based in Houston, Texas.

How the Company Makes Money

Contango ORE makes money through its exploration and development activities in the mineral sector, primarily focusing on gold. The company's revenue model involves acquiring promising mineral properties, conducting exploration activities to assess and prove the viability of mineral deposits, and then developing these properties to increase their value. The company may also enter into joint ventures or partnerships to share the risks and costs associated with exploration and development. Key revenue streams include the potential sale of mineral resources, royalties from developed properties, and potential partnerships with larger mining companies that provide capital and operational expertise in exchange for a stake in the project.

Contango ORE Financial Statement Overview

Summary

Contango ORE's financial performance is reflective of a development-stage company in the mining industry. The lack of revenue, high leverage, and ongoing financial losses highlight significant operational and financial risks. While recent equity improvements suggest some positive changes, overall financial health remains weak.

Income Statement

Contango ORE shows no revenue generation, with gross profit and net income remaining negative. The company experienced losses with negative EBIT and EBITDA margins. This indicates operational challenges and a lack of profitability, common in companies focused on exploration and development without current production.

Balance Sheet

The company has a high debt-to-equity ratio due to significant liabilities compared to its equity. The negative equity in previous years signals potential risks, though recent improvements in equity have been noted. The equity ratio is low, pointing to a leveraged position, common in the mining industry during development stages.

Cash Flow

Operating cash flow is marginally positive but insufficient to cover net losses. Free cash flow has been volatile, reflecting the company's ongoing cash burn in its development phase. The reliance on financing activities to support operations highlights operational cash flow challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-320.29K	-131.42K	-117.81K	-148.36K	-64.89K	0.00
EBITDA	-24.68M	-26.25M	-76.70M	-17.51M	-23.14M	35.83M
Net Income	-1.29M	-38.03M	-81.53M	-39.74M	-23.51M	23.87M
Balance Sheet
Total Assets	217.66M	133.89M	58.59M	25.66M	37.29M	35.97M
Cash, Cash Equivalents and Short-Term Investments	106.98M	20.06M	15.50M	11.65M	23.10M	35.22M
Total Debt	42.10M	68.97M	44.68M	25.46M	19.24M	0.00
Total Liabilities	169.85M	132.62M	73.14M	30.44M	24.02M	1.42M
Stockholders Equity	47.81M	1.27M	-14.54M	-4.77M	13.27M	34.55M
Cash Flow
Free Cash Flow	50.30M	698.99K	-9.44M	-14.68M	-13.99M	-8.41M
Operating Cash Flow	50.26M	698.99K	-9.43M	-14.68M	-13.95M	-8.38M
Investing Cash Flow	-576.52K	-32.13M	-34.39M	-21.12M	-15.39M	27.35M
Financing Cash Flow	21.00M	36.01M	47.68M	24.35M	17.44M	13.23M

Contango ORE Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.48
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTGO, the sentiment is Positive. The current price of 29.48 is above the 20-day moving average (MA) of 27.90, above the 50-day MA of 25.42, and above the 200-day MA of 21.00, indicating a bullish trend. The MACD of 0.68 indicates Negative momentum. The RSI at 62.59 is Neutral, neither overbought nor oversold. The STOCH value of 83.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTGO.

Contango ORE Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IDR	72 Outperform	$708.99M	66.52	18.37%	―	61.35%	34.33%
CTGO	64 Neutral	$455.93M	-154.10	-10.05%	―	―	97.09%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
HYMC	48 Neutral	$2.84B	-21.22	-374.60%	―	―	40.02%

Contango ORE Corporate Events

Contango ORE Announces Merger with Dolly Varden Silver

On December 7, 2025, Contango ORE, Inc. announced a merger agreement with Dolly Varden Silver Corporation to form a new entity, Contango Silver & Gold Inc. This merger aims to create a North American-focused silver and gold producer with a balanced portfolio of assets ranging from exploration to production stages. The transaction is expected to close in the first quarter of 2026, with shareholders of both companies holding equal stakes in the new entity. The merger is strategically positioned to leverage the high-grade Manh Choh gold mine for funding future developments and is anticipated to enhance the combined company’s market presence and shareholder value.

The most recent analyst rating on (CTGO) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Contango ORE stock, see the CTGO Stock Forecast page.

Contango ORE’s Project Joins FAST-41 Program

On December 1, 2025, Contango ORE, Inc. announced that its Johnson Tract Critical Metals Project was accepted into the Federal Permitting Improvement Steering Council’s FAST-41 program. This inclusion is expected to enhance the project’s permitting process through improved coordination, transparency, and accountability, potentially advancing the project’s development and aligning with high environmental and regulatory standards.

The most recent analyst rating on (CTGO) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Contango ORE stock, see the CTGO Stock Forecast page.

Contango ORE Launches Lucky Shot Drill Program

On November 19, 2025, Contango ORE, Inc. announced the commencement of the Lucky Shot drill program aimed at completing a Feasibility Study. This program, which started on the announcement date, involves a four-phase drilling operation expected to extend through 2026, with the Feasibility Study anticipated to be completed in 2027. The drilling will focus on in-filling the Lucky Shot vein resource and conducting various tests to support the development of a reserve model. This initiative marks a significant step in advancing the company’s exploration efforts and could potentially enhance its market position by providing a robust resource model.

The most recent analyst rating on (CTGO) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Contango ORE stock, see the CTGO Stock Forecast page.

Contango ORE Reports Record High Q3 2025 Income

Contango ORE, Inc. reported a record high income from operations of $25 million for the third quarter of 2025, with a cash position of $107 million. The company sold 16,669 ounces of gold at a cash cost of $1,402 per ounce and an all-in-sustaining cost of $1,597 per ounce, both below the 2025 target. The company is also advancing its Lucky Shot project with a 15,000-meter underground drilling program and plans to complete a feasibility study within 12 to 18 months, targeting production of 30,000 to 40,000 ounces of gold per year.

The most recent analyst rating on (CTGO) stock is a Buy with a $35.00 price target. To see the full list of analyst forecasts on Contango ORE stock, see the CTGO Stock Forecast page.