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

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 567,700 shares, an increase of 9.4% from the December 15th total of 519,100 shares. Based on an average daily volume of 107,700 shares, the short-interest ratio is presently 5.3 days. Currently, 7.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Insider Activity

In other Contango Ore news, Director John B. Juneau bought 8,300 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $11.83 per share, with a total value of $98,189.00. Following the completion of the transaction, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. This trade represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Contango Ore

A number of large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Contango Ore in the third quarter valued at approximately $40,000. Quantbot Technologies LP acquired a new position in shares of Contango Ore during the 3rd quarter worth approximately $57,000. JPMorgan Chase & Co. raised its stake in Contango Ore by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after acquiring an additional 1,129 shares during the period. Rhumbline Advisers lifted its holdings in Contango Ore by 55.1% during the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after purchasing an additional 3,397 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Contango Ore during the second quarter worth $185,000. Institutional investors and hedge funds own 19.14% of the company’s stock.

Contango Ore Price Performance

NYSEAMERICAN CTGO opened at $11.46 on Monday. Contango Ore has a 12 month low of $9.65 and a 12 month high of $25.32. The company has a market capitalization of $140.16 million, a PE ratio of -1.47 and a beta of 0.54.

About Contango Ore

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.