Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 10.3% in August

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 425,800 shares, a decline of 10.3% from the August 15th total of 474,900 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 79,800 shares, the short-interest ratio is currently 5.3 days.

Contango Ore Stock Down 5.0 %

Shares of CTGO stock opened at $19.12 on Thursday. Contango Ore has a 12 month low of $14.03 and a 12 month high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($1.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.50). As a group, research analysts forecast that Contango Ore will post -2.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael Aaron Clark sold 1,375 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 26,092 shares of the company’s stock, valued at $565,152.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph S. Compofelice sold 7,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $21.14, for a total transaction of $157,704.40. Following the completion of the sale, the director now owns 148,498 shares of the company’s stock, valued at approximately $3,139,247.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Aaron Clark sold 1,375 shares of Contango Ore stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $21.66, for a total transaction of $29,782.50. Following the completion of the transaction, the chief financial officer now directly owns 26,092 shares in the company, valued at $565,152.72. The disclosure for this sale can be found here. 17.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Contango Ore

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mather Group LLC. bought a new stake in Contango Ore in the first quarter valued at approximately $28,000. Rhumbline Advisers boosted its stake in shares of Contango Ore by 55.1% in the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after purchasing an additional 3,397 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Contango Ore during the second quarter worth $185,000. Fore Capital LLC bought a new position in Contango Ore during the second quarter worth $201,000. Finally, Bank of New York Mellon Corp lifted its holdings in Contango Ore by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock valued at $409,000 after buying an additional 966 shares during the period. Institutional investors and hedge funds own 19.14% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Roth Mkm dropped their target price on shares of Contango Ore from $38.00 to $33.00 and set a “buy” rating for the company in a report on Friday, August 9th.

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.