Contango Ore (NYSEAMERICAN:CTGO) Shares Cross Above 50 Day Moving Average – Here’s Why

Contango Ore, Inc. (NYSEAMERICAN:CTGO) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $0.00 and traded as high as $10.69. Contango Ore shares last traded at $10.42, with a volume of 92,293 shares changing hands.

Contango Ore Stock Performance

The firm has a market capitalization of $127.44 million, a price-to-earnings ratio of -1.33 and a beta of 0.55.

Insiders Place Their Bets

In related news, Director John B. Juneau acquired 8,300 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $11.83 per share, with a total value of $98,189.00. Following the acquisition, the director now owns 319,411 shares of the company’s stock, valued at approximately $3,778,632.13. The trade was a 2.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in Contango Ore by 27.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock worth $508,000 after buying an additional 5,630 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Contango Ore in the 3rd quarter valued at $57,000. State Street Corp boosted its stake in shares of Contango Ore by 11.3% in the 3rd quarter. State Street Corp now owns 156,606 shares of the company’s stock valued at $3,016,000 after purchasing an additional 15,859 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Contango Ore during the 3rd quarter valued at $273,000. Finally, Barclays PLC raised its position in Contango Ore by 372.7% in the 3rd quarter. Barclays PLC now owns 13,987 shares of the company’s stock worth $270,000 after purchasing an additional 11,028 shares during the period. Institutional investors own 19.14% of the company’s stock.

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.