Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Update

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 519,100 shares, an increase of 21.1% from the November 30th total of 428,700 shares. Currently, 6.8% of the company’s stock are short sold. Based on an average trading volume of 102,500 shares, the days-to-cover ratio is currently 5.1 days.

Contango Ore Trading Down 0.8 %

CTGO stock traded down $0.08 during midday trading on Tuesday, hitting $10.02. The company’s stock had a trading volume of 138,681 shares, compared to its average volume of 69,726. The stock has a market cap of $122.54 million, a P/E ratio of -1.28 and a beta of 0.48. Contango Ore has a 1 year low of $9.65 and a 1 year high of $25.32.

Insider Activity

In related news, Director John B. Juneau acquired 8,300 shares of the company’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the purchase, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. The trade was a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Contango Ore

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Contango Ore by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock worth $409,000 after buying an additional 966 shares during the last quarter. Rhumbline Advisers increased its holdings in Contango Ore by 55.1% in the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock worth $173,000 after acquiring an additional 3,397 shares during the last quarter. Fore Capital LLC purchased a new stake in Contango Ore in the 2nd quarter worth about $201,000. Marshall Wace LLP bought a new stake in Contango Ore in the 2nd quarter valued at about $185,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Contango Ore by 27.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock valued at $508,000 after purchasing an additional 5,630 shares during the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Analysts Set New Price Targets

Separately, Roth Mkm raised their price target on shares of Contango Ore from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, October 11th.

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.