Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Update

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 452,900 shares, a decline of 9.5% from the October 15th total of 500,400 shares. Based on an average daily volume of 75,400 shares, the days-to-cover ratio is currently 6.0 days. Currently, 6.2% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Roth Mkm raised 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.

Insider Transactions at Contango Ore

In related news, CFO Michael Aaron Clark sold 1,375 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $21.66, for a total transaction of $29,782.50. Following the completion of the sale, the chief financial officer now owns 26,092 shares in the company, valued at approximately $565,152.72. This represents a 5.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph S. Compofelice sold 7,460 shares of the firm’s 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 completion of the transaction, the director now directly owns 148,498 shares in the company, valued at $3,139,247.72. The trade was a 4.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Contango Ore

Institutional investors have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Contango Ore in the 3rd quarter worth $57,000. Rhumbline Advisers boosted its position in shares of Contango Ore by 55.1% during the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after acquiring an additional 3,397 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Contango Ore in the second quarter valued at $185,000. Fore Capital LLC purchased a new stake in Contango Ore during the second quarter valued at $201,000. Finally, Barclays PLC lifted its position in Contango Ore by 372.7% during the third quarter. Barclays PLC now owns 13,987 shares of the company’s stock valued at $270,000 after purchasing an additional 11,028 shares during the last quarter. 19.14% of the stock is owned by institutional investors.

Contango Ore Stock Up 1.4 %

Contango Ore stock traded up $0.25 during trading on Tuesday, reaching $18.64. The company had a trading volume of 22,594 shares, compared to its average volume of 58,816. Contango Ore has a 52 week low of $14.03 and a 52 week high of $25.32.

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.