Contango Ore, Inc.

NYSEAM:CTGO Stock Report

Market Cap: US$172.2m

Contango Ore Valuation

Is CTGO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CTGO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CTGO ($14.08) is trading below our estimate of fair value ($165.01)

Significantly Below Fair Value: CTGO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CTGO?

Key metric: As CTGO is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for CTGO. This is calculated by dividing CTGO's market cap by their current book value.
What is CTGO's PB Ratio?
PB Ratio-16.9x
Book-US$10.22m
Market CapUS$172.18m

Price to Book Ratio vs Peers

How does CTGO's PB Ratio compare to its peers?

The above table shows the PB ratio for CTGO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average7.5x
IDR Idaho Strategic Resources
5.1x30.3%US$167.3m
REEM.F Rare Element Resources
6.4xn/aUS$187.5m
USGO U.S. GoldMining
12.4xn/aUS$150.8m
USAU U.S. Gold
6.3xn/aUS$82.9m
CTGO Contango Ore
n/a126.4%US$172.2m

Price-To-Book vs Peers: CTGO has negative equity and a Price-To-Book Ratio (-16.9x) compared to the peer average (7.5x).

Price to Book Ratio vs Industry

How does CTGO's PB Ratio compare vs other companies in the US Metals and Mining Industry?

8 CompaniesPrice / BookEstimated GrowthMarket Cap
NEVD.Q Nevada Copper
0.1xn/aUS$26.02m
VITF.F Victoria Gold
0.06xn/aUS$23.43m
BMXI Brookmount Explorations
0.2xn/aUS$6.48m
LITM Snow Lake Resources
0.2xn/aUS$4.14m
CTGO is unprofitableIndustry Avg. 1.8xNo. of Companies14PB012345+
8 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: CTGO has negative equity and a Price-To-Book Ratio (-16.9x) compared to the US Metals and Mining industry average (1.8x).

Price to Book Ratio vs Fair Ratio

What is CTGO's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CTGO PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio-16.9x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate CTGO's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CTGO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$14.08
US$32.25
+129.0%
16.2%US$40.00US$25.00n/a6
Nov ’25US$20.87
US$34.23
+64.0%
10.0%US$40.00US$29.67n/a6
Oct ’25US$18.80
US$33.48
+78.1%
9.5%US$40.00US$29.67n/a6
Sep ’25US$21.52
US$33.48
+55.6%
9.5%US$40.00US$29.67n/a6
Aug ’25US$21.26
US$34.03
+60.1%
8.3%US$38.00US$29.67n/a5
Jul ’25US$18.81
US$34.17
+81.6%
9.2%US$38.00US$29.67n/a4
Jun ’25US$23.92
US$34.92
+46.0%
9.0%US$38.00US$29.67n/a4
May ’25US$21.57
US$32.14
+49.0%
16.2%US$38.00US$23.22n/a5
Apr ’25US$19.66
US$31.18
+58.6%
19.4%US$38.00US$23.22n/a4
Mar ’25US$18.06
US$32.41
+79.4%
20.2%US$38.00US$23.22n/a3
Feb ’25US$17.01
US$37.00
+117.5%
2.7%US$38.00US$36.00n/a2
Jan ’25US$18.11
US$34.67
+91.4%
9.8%US$38.00US$30.00n/a3
Dec ’24US$21.03
US$34.67
+64.8%
9.8%US$38.00US$30.00US$14.083
Nov ’24US$17.26
US$34.67
+100.8%
9.8%US$38.00US$30.00US$20.873
Oct ’24US$18.14
US$34.67
+91.1%
9.8%US$38.00US$30.00US$18.803
Sep ’24US$18.58
US$34.00
+83.0%
11.8%US$38.00US$30.00US$21.522
Aug ’24US$18.37
US$34.00
+85.1%
11.8%US$38.00US$30.00US$21.262
Jul ’24US$25.48
US$34.00
+33.4%
11.8%US$38.00US$30.00US$18.812
Jun ’24US$26.00
US$34.00
+30.8%
11.8%US$38.00US$30.00US$23.922
May ’24US$29.70
US$36.50
+22.9%
4.1%US$38.00US$35.00US$21.572
Apr ’24US$28.50
US$36.50
+28.1%
4.1%US$38.00US$35.00US$19.662

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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