Contango Ore (NYSEAMERICAN:CTGO) Releases Quarterly Earnings Results, Misses Estimates By $0.34 EPS

Contango Ore (NYSEAMERICAN:CTGO) issued its quarterly earnings data on Wednesday. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.34), MarketWatch Earnings reports.

Contango Ore Trading Up 5.1 %

CTGO stock opened at $18.76 on Friday. Contango Ore has a one year low of $17.01 and a one year high of $33.67.

Institutional Trading of Contango Ore

Several institutional investors have recently made changes to their positions in CTGO. Citigroup Inc. grew its stake in shares of 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 buying an additional 552 shares during the period. California State Teachers Retirement System purchased a new stake in Contango Ore during the 2nd quarter worth $32,000. UBS Group AG boosted its position in Contango Ore by 5,168.2% during the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock worth $35,000 after purchasing an additional 1,137 shares during the period. Wells Fargo & Company MN boosted its position 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 worth $38,000 after purchasing an additional 1,462 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Contango Ore by 576.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock worth $76,000 after purchasing an additional 2,531 shares during the period. 12.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Maxim Group began coverage on shares of Contango Ore in a research note on Thursday. They issued a “buy” rating and a $36.00 target price for the company.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 State of Alaska mining claims for exploration and development; leases mineral rights approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc; and owns 100% interest in the mineral rights to approximately 214,600 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.