Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Up 9.4% in December

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 567,700 shares, a growth of 9.4% from the December 15th total of 519,100 shares. Based on an average trading volume of 107,700 shares, the short-interest ratio is presently 5.3 days. Approximately 7.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Insider Buying and Selling at Contango Ore

In other news, Director John B. Juneau bought 8,300 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $11.83 per share, for a total transaction of $98,189.00. Following the completion of the purchase, the director now owns 319,411 shares of the company’s stock, valued at approximately $3,778,632.13. The trade was a 2.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Contango Ore

Several institutional investors have recently bought and sold shares of CTGO. JPMorgan Chase & Co. increased its stake in Contango Ore by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after buying an additional 1,129 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Contango Ore by 207.2% in the third quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock valued at $4,393,000 after acquiring an additional 151,559 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Contango Ore during the third quarter worth about $40,000. Barclays PLC boosted 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. Finally, Geode Capital Management LLC increased its position in shares of Contango Ore by 58.7% during the 3rd quarter. Geode Capital Management LLC now owns 219,696 shares of the company’s stock worth $4,233,000 after purchasing an additional 81,227 shares during the last quarter. Institutional investors own 19.14% of the company’s stock.

Contango Ore Price Performance

Shares of NYSEAMERICAN:CTGO traded up $0.62 during trading on Friday, hitting $11.46. 83,977 shares of the company’s stock traded hands, compared to its average volume of 111,618. Contango Ore has a 52 week low of $9.65 and a 52 week high of $25.32. The stock has a market capitalization of $140.16 million, a PE ratio of -1.47 and a beta of 0.54.

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.