Contango Ore (NYSEAMERICAN:CTGO) Given a $29.67 Price Target by Fundamental Research Analysts

Contango Ore (NYSEAMERICAN:CTGO) has been given a $29.67 target price by equities researchers at Fundamental Research in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Fundamental Research’s price objective would indicate a potential upside of 190.88% from the stock’s current price.

Contango Ore Stock Up 1.5 %

Shares of CTGO stock opened at $10.20 on Wednesday. Contango Ore has a 12 month low of $9.65 and a 12 month high of $25.32. The company has a market capitalization of $124.75 million, a price-to-earnings ratio of -1.30 and a beta of 0.55.

Insider Buying and Selling

In related news, Director John B. Juneau acquired 8,300 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the purchase, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. This trade represents a 2.67 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Contango Ore

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in Contango Ore by 207.2% during the third quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock worth $4,393,000 after buying an additional 151,559 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of 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. Marshall Wace LLP boosted its holdings in shares of Contango Ore by 465.2% in the 4th quarter. Marshall Wace LLP now owns 70,438 shares of the company’s stock worth $706,000 after acquiring an additional 57,976 shares in the last quarter. Raffles Associates LP grew its position in Contango Ore by 281.5% during the 4th quarter. Raffles Associates LP now owns 46,554 shares of the company’s stock worth $466,000 after acquiring an additional 34,351 shares during the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Contango Ore during the 4th quarter valued at $200,000. Institutional investors own 19.14% of the company’s stock.

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.