Contango ORE, Inc. (CTGO) Hits Fresh High: Is There Still Room to Run?

A strong stock as of late has been Contango ORE, Inc. (CTGO). Shares have been marching higher, with the stock up 14.2% over the past month. The stock hit a new 52-week high of $25.88 in the previous session. Contango ORE, Inc. has gained 143.8% since the start of the year compared to the 24.9% move for the Zacks Basic Materials sector and the 28.8% return for the Zacks Mining - Miscellaneous industry.What's Driving the Outperformance?The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on August 13, 2025, Contango ORE, Inc. reported EPS of $1.24 versus consensus estimate of -$0.01.Valuation MetricsWhile Contango ORE, Inc. has moved to its 52-week high over the past few weeks, investors need to be asking, what is next for the company? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.Contango ORE, Inc. has a Value Score of C. The stock's Growth and Momentum Scores are B and A, respectively, giving the company a VGM Score of A.In terms of its value breakdown, the stock currently trades at 36.5X current fiscal year EPS estimates, which is a premium to the peer industry average of 18.7X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.Zacks RankWe also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Contango ORE, Inc. currently has a Zacks Rank of #1 (Strong Buy) thanks to rising earnings estimates.Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Contango ORE, Inc. fits the bill. Thus, it seems as though Contango ORE, Inc. shares could have potential in the weeks and months to come.How Does CTGO Stack Up to the Competition?Shares of CTGO have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Materion Corporation (MTRN). MTRN has a Zacks Rank of #2 (Buy) and a Value Score of B, a Growth Score of B, and a Momentum Score of B.Earnings were strong last quarter. Materion Corporation beat our consensus estimate by 16.10%, and for the current fiscal year, MTRN is expected to post earnings of $5.28 per share on revenue of $1.72 billion.Shares of Materion Corporation have gained 11.3% over the past month, and currently trade at a forward P/E of 23.38X and a P/CF of 14.09X.The Mining - Miscellaneous industry may rank in the bottom 59% of all the industries we have in our universe, but there still looks like there are some nice tailwinds for CTGO and MTRN, even beyond their own solid fundamental situation.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Contango ORE, Inc. (CTGO): Free Stock Analysis Report Materion Corporation (MTRN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks