Contango Ore, Inc. (NYSEAMERICAN:CTGO) Director Richard Shortz Sells 3,635 Shares

Contango Ore, Inc. (NYSEAMERICAN:CTGO) Director Richard Shortz sold 3,635 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $20.64, for a total value of $75,026.40. Following the transaction, the director now directly owns 99,947 shares of the company’s stock, valued at approximately $2,062,906.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Contango Ore Price Performance

Shares of NYSEAMERICAN:CTGO opened at $19.46 on Thursday. Contango Ore, Inc. has a 52-week low of $14.03 and a 52-week high of $33.67. The company has a debt-to-equity ratio of 2.98, a current ratio of 4.02 and a quick ratio of 4.02. The company has a market capitalization of $186.82 million, a PE ratio of -3.22 and a beta of 0.54.

Wall Street Analyst Weigh In

CTGO has been the subject of a number of recent analyst reports. Fundamental Research set a $23.22 price target on Contango Ore and gave the company a “buy” rating in a research report on Tuesday, February 13th. Roth Mkm reissued a “buy” rating and issued a $38.00 target price on shares of Contango Ore in a research report on Monday. Finally, Cormark assumed coverage on Contango Ore in a research report on Friday, March 22nd. They issued a “buy” rating and a $27.50 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Luminus Management LLC bought a new position in Contango Ore during the 3rd quarter valued at approximately $509,000. Wittenberg Investment Management Inc. boosted its stake in Contango Ore by 17.4% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 24,323 shares of the company’s stock valued at $441,000 after purchasing an additional 3,600 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Contango Ore by 5.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,190 shares of the company’s stock valued at $203,000 after purchasing an additional 621 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Contango Ore during the 4th quarter valued at $194,000. Finally, JPMorgan Chase & Co. boosted its stake in Contango Ore by 576.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock valued at $76,000 after purchasing an additional 2,531 shares during the last quarter. Institutional investors own 19.14% of the company’s stock.

Contango Ore Company Profile

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 154,000 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.