Contango Ore, Inc. (NYSEAMERICAN:CTGO) Sees Large Decline in Short Interest

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 188,600 shares, a drop of 6.6% from the March 15th total of 201,900 shares. Currently, 3.7% of the company’s stock are sold short. Based on an average trading volume of 24,400 shares, the short-interest ratio is presently 7.7 days.

Insider Activity at Contango Ore

In related news, Director Joseph S. Compofelice sold 5,826 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $128,172.00. Following the sale, the director now owns 163,878 shares in the company, valued at $3,605,316. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joseph S. Compofelice sold 5,826 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $128,172.00. Following the sale, the director now owns 163,878 shares in the company, valued at $3,605,316. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph S. Compofelice sold 2,920 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $20.60, for a total transaction of $60,152.00. Following the completion of the sale, the director now owns 160,958 shares in the company, valued at approximately $3,315,734.80. The disclosure for this sale can be found here. Insiders sold 29,045 shares of company stock valued at $605,171 over the last 90 days. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Contango Ore

Large investors have recently made changes to their positions in the business. Citigroup Inc. grew its holdings in Contango Ore by 99.1% during the 2nd quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock valued at $28,000 after purchasing an additional 552 shares during the last quarter. UBS Group AG grew its holdings in Contango Ore by 5,168.2% during the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock valued at $35,000 after purchasing an additional 1,137 shares during the last quarter. California State Teachers Retirement System bought a new position in Contango Ore during the 2nd quarter valued at about $32,000. Wells Fargo & Company MN grew its holdings in Contango Ore by 7,310.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock valued at $38,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Mather Group LLC. bought a new position in Contango Ore during the 1st quarter valued at about $28,000. 19.14% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTGO has been the topic of several analyst reports. Roth Mkm reiterated a “buy” rating and set a $38.00 price target on shares of Contango Ore in a research note on Monday, March 25th. Cormark started coverage on shares of Contango Ore in a research note on Friday, March 22nd. They set a “buy” rating and a $27.50 target price on the stock. Finally, Fundamental Research set a $23.22 target price on shares of Contango Ore and gave the company a “buy” rating in a research note on Tuesday, February 13th.

Contango Ore Stock Performance

Contango Ore stock opened at $19.83 on Thursday. Contango Ore has a twelve month low of $14.03 and a twelve month high of $33.67. The company has a debt-to-equity ratio of 2.98, a quick ratio of 4.02 and a current ratio of 4.02. The stock has a market capitalization of $190.37 million, a PE ratio of -3.28 and a beta of 0.56.

Contango Ore Company Profile

Contango Ore, Inc, an exploration stage company, engages in the exploration and development of mineral properties in Alaska, the United States. It primarily explores for gold, silver, and copper ores. The company was founded in 2009 and is headquartered in Fairbanks, Alaska.