Contango Ore’s (CTGO) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm reissued their buy rating on shares of Contango Ore (NYSEAMERICAN:CTGO) in a research note published on Thursday, Benzinga reports. They currently have a $38.00 price objective on the stock.

CTGO has been the topic of a number of other research reports. Cormark started coverage on shares of Contango Ore in a report on Friday, March 22nd. They set a buy rating and a $27.50 target price on the stock. Fundamental Research set a $29.67 price target on shares of Contango Ore and gave the stock a buy rating in a report on Tuesday, May 14th.

Contango Ore Stock Up 4.8 %

NYSEAMERICAN:CTGO opened at $21.33 on Thursday. Contango Ore has a 1 year low of $14.03 and a 1 year high of $33.67. The company has a debt-to-equity ratio of 2.98, a quick ratio of 4.02 and a current ratio of 0.28.

Contango Ore (NYSEAMERICAN:CTGO) last issued its earnings results on Tuesday, May 14th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($1.51) by $1.00. On average, equities analysts expect that Contango Ore will post -5.82 earnings per share for the current year.

Insider Activity at Contango Ore

In other Contango Ore news, CEO Nieuwenhuyse Rick Van sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $66,000.00. Following the completion of the transaction, the chief executive officer now owns 500,896 shares of the company’s stock, valued at approximately $11,019,712. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Richard Shortz sold 3,635 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.64, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Nieuwenhuyse Rick Van sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $22.00, for a total value of $66,000.00. Following the completion of the sale, the chief executive officer now owns 500,896 shares of the company’s stock, valued at approximately $11,019,712. The disclosure for this sale can be found here. Insiders have sold 29,045 shares of company stock valued at $605,171 over the last three months. 17.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Mather Group LLC. bought a new stake in shares of Contango Ore in the 1st quarter valued at about $28,000. Bank of New York Mellon Corp lifted its position in Contango Ore by 5.9% in the third 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. Wittenberg Investment Management Inc. lifted its position in Contango Ore by 17.4% in the third 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. Luminus Management LLC purchased a new stake in shares of Contango Ore during the third quarter valued at approximately $509,000. Finally, Vanguard Group Inc. grew its holdings in shares of Contango Ore by 6.7% in the first quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares during the last quarter. 19.14% of the stock is owned by hedge funds and other institutional investors.

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.