Insider Buying: Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Buys 10,000 Shares of Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van bought 10,000 shares of Contango Ore stock in a transaction dated Tuesday, March 25th. The stock was acquired at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 545,869 shares in the company, valued at $5,447,772.62. This represents a 1.87 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Contango Ore Stock Up 1.2 %

CTGO opened at $9.92 on Thursday. Contango Ore, Inc. has a 1-year low of $8.85 and a 1-year high of $25.32. The firm has a market cap of $121.32 million, a PE ratio of -1.27 and a beta of 0.55. The company has a 50-day moving average of $10.21.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a $29.67 price objective on Contango Ore and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Institutional Trading of Contango Ore

Several hedge funds have recently modified their holdings of CTGO. Geode Capital Management LLC boosted its holdings in Contango Ore by 58.7% in the third quarter. Geode Capital Management LLC now owns 219,696 shares of the company’s stock valued at $4,233,000 after acquiring an additional 81,227 shares during the last quarter. Franklin Resources Inc. lifted its position in Contango Ore by 207.2% during the 3rd quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock valued at $4,393,000 after purchasing an additional 151,559 shares during the period. Barclays PLC boosted its stake in shares of Contango Ore by 372.7% in the 3rd 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. Charles Schwab Investment Management Inc. boosted its stake in Contango Ore by 27.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock valued at $508,000 after acquiring an additional 5,630 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Contango Ore by 32.0% during the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock worth $90,000 after purchasing an additional 1,129 shares during the period. 19.14% of the stock is owned by 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.