Contango Ore (NYSEAMERICAN:CTGO) Stock Price Passes Above 50-Day Moving Average – Here’s Why

Contango Ore, Inc. (NYSEAMERICAN:CTGO)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $0.00 and traded as high as $18.48. Contango Ore shares last traded at $18.36, with a volume of 60,564 shares.

Analyst Upgrades and Downgrades

Separately, Roth Mkm upped their target price on Contango Ore from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, October 11th.

Contango Ore Price Performance

Insider Buying and Selling at Contango Ore

In other news, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $21.66, for a total transaction of $29,782.50. Following the sale, the chief financial officer now directly owns 26,092 shares of the company’s stock, valued at $565,152.72. The trade was a 5.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph S. Compofelice sold 7,460 shares of Contango Ore stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the sale, the director now directly owns 148,498 shares of the company’s stock, valued at approximately $3,139,247.72. This represents a 4.78 % decrease in their position. 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. Bank of New York Mellon Corp raised its position in 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 acquiring an additional 966 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Contango Ore during the 3rd quarter valued at approximately $57,000. Rhumbline Advisers lifted its stake in shares of Contango Ore by 55.1% in the 2nd 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. Charles Schwab Investment Management Inc. boosted its holdings in Contango Ore by 27.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock worth $508,000 after buying an additional 5,630 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Contango Ore during the second quarter worth $185,000. Hedge funds and other 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 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.