Contango Ore (NYSEAMERICAN:CTGO) Stock Price Passes Above 50 Day Moving Average of $0.00

Contango Ore, Inc. (NYSEAMERICAN:CTGO – Get Rating)’s stock price passed 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 $28.00. Contango Ore shares last traded at $25.01, with a volume of 16,542 shares traded.

Contango Ore Price Performance

The stock has a market capitalization of $190.58 million, a PE ratio of -4.71 and a beta of 0.49. The company has a debt-to-equity ratio of 2.72, a quick ratio of 7.09 and a current ratio of 7.09.

Hedge Funds Weigh In On Contango Ore

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sprott Inc. raised its stake in Contango Ore by 38.0% in the fourth quarter. Sprott Inc. now owns 363,200 shares of the company’s stock worth $8,325,000 after buying an additional 100,000 shares in the last quarter. Gabelli Funds LLC grew its holdings in Contango Ore by 12.5% in the fourth quarter. Gabelli Funds LLC now owns 121,152 shares of the company’s stock worth $2,777,000 after purchasing an additional 13,452 shares during the period. Vanguard Group Inc. purchased a new stake in Contango Ore in the third quarter worth about $879,000. BlackRock Inc. purchased a new stake in Contango Ore in the third quarter worth about $647,000. Finally, Wittenberg Investment Management Inc. grew its holdings in Contango Ore by 8.4% in the first quarter. Wittenberg Investment Management Inc. now owns 20,723 shares of the company’s stock worth $591,000 after purchasing an additional 1,602 shares during the period. 8.68% of the stock is owned by institutional investors.

About Contango Ore

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Contango ORE, Inc engages in the exploration of gold, associated minerals, and rare earth elements. It includes geological surveying, geochemical sampling, geophysical surveying, geochemical evaluation for rare earth elements, and electromagnetic exploration in order to determine the existence and location of rare earth elements.