Contango Ore, Inc. (NYSEAMERICAN:CTGO) Sees Large Drop in Short Interest

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 383,600 shares, a drop of 9.9% from the August 31st total of 425,800 shares. Based on an average daily trading volume, of 81,500 shares, the short-interest ratio is presently 4.7 days. Approximately 5.3% of the company’s stock are sold short.

Insider Activity

In other news, CFO Michael Aaron Clark sold 1,375 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $21.66, for a total value of $29,782.50. Following the completion of the sale, the chief financial officer now directly owns 26,092 shares in the company, valued at approximately $565,152.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $21.66, for a total value of $29,782.50. Following the transaction, the chief financial officer now owns 26,092 shares in the company, valued at approximately $565,152.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph S. Compofelice sold 7,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the completion of the transaction, the director now owns 148,498 shares in the company, valued at approximately $3,139,247.72. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CTGO. Mather Group LLC. purchased a new stake in Contango Ore in the first quarter worth approximately $28,000. Rhumbline Advisers boosted its stake in shares of Contango Ore by 55.1% during the second quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after purchasing an additional 3,397 shares during the period. Marshall Wace LLP purchased a new stake in shares of Contango Ore during the second quarter valued at approximately $185,000. Fore Capital LLC purchased a new stake in shares of Contango Ore during the second quarter valued at approximately $201,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Contango Ore by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock valued at $409,000 after purchasing an additional 966 shares during the period. Institutional investors own 19.14% of the company’s stock.

Analyst Ratings Changes

Separately, Roth Mkm lowered their price target on shares of Contango Ore from $38.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Contango Ore Stock Up 0.1 %

Shares of NYSEAMERICAN:CTGO traded up $0.01 during mid-day trading on Tuesday, reaching $19.27. The company had a trading volume of 707 shares, compared to its average volume of 57,131. Contango Ore has a one year low of $14.03 and a one year high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.50). As a group, equities research analysts anticipate that Contango Ore will post -2.98 earnings per share for the current year.

Contango Ore Company Profile

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.