Charles Schwab Investment Management Inc. Increases Stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Charles Schwab Investment Management Inc. increased its stake in Contango Ore, Inc. (NYSEAMERICAN:CTGO) by 27.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,389 shares of the company’s stock after acquiring an additional 5,630 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.22% of Contango Ore worth $508,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers grew its position in 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 acquiring an additional 3,397 shares during the period. Marshall Wace LLP acquired a new position in shares of Contango Ore in the 2nd quarter valued at about $185,000. Fore Capital LLC purchased a new stake in shares of Contango Ore during the 2nd quarter worth about $201,000. Finally, Bank of New York Mellon Corp increased its position in Contango Ore by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock worth $409,000 after purchasing an additional 966 shares in the last quarter. 19.14% of the stock is currently owned by hedge funds and other institutional investors.

Contango Ore Price Performance

NYSEAMERICAN:CTGO opened at $10.24 on Friday. The stock has a market capitalization of $125.24 million, a P/E ratio of -1.31 and a beta of 0.48. Contango Ore, Inc. has a one year low of $10.10 and a one year high of $25.32.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, Director John B. Juneau bought 8,300 shares of the stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $11.83 per share, with a total value of $98,189.00. Following the completion of the acquisition, the director now owns 319,411 shares of the company’s stock, valued at $3,778,632.13. This trade represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

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.