Short Interest in Contango Ore, Inc. (NYSEAMERICAN:CTGO) Expands By 9.4%

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 567,700 shares, an increase of 9.4% from the December 31st total of 519,100 shares. Approximately 7.4% of the company’s shares are sold short. Based on an average daily volume of 107,700 shares, the short-interest ratio is currently 5.3 days.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director John B. Juneau acquired 8,300 shares of Contango Ore stock in a transaction on Friday, December 13th. The shares were 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 directly owns 319,411 shares in the company, valued at $3,778,632.13. This trade represents a 2.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 17.80% of the company’s stock.

Institutional Trading of Contango Ore

A number of large investors have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of Contango Ore by 207.2% in the 3rd quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock valued at $4,393,000 after buying an additional 151,559 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Contango Ore by 58.7% during the 3rd quarter. Geode Capital Management LLC now owns 219,696 shares of the company’s stock valued at $4,233,000 after purchasing an additional 81,227 shares during the last quarter. State Street Corp lifted its holdings in Contango Ore by 11.3% during the 3rd quarter. State Street Corp now owns 156,606 shares of the company’s stock valued at $3,016,000 after purchasing an additional 15,859 shares during the last quarter. Jane Street Group LLC acquired a new stake in Contango Ore during the 3rd quarter valued at $273,000. Finally, Barclays PLC lifted its holdings in Contango Ore by 372.7% during 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. 19.14% of the stock is owned by institutional investors.

Contango Ore Trading Up 3.0 %

Shares of CTGO stock opened at $10.68 on Tuesday. Contango Ore has a 52-week low of $9.65 and a 52-week high of $25.32. The company has a market capitalization of $130.62 million, a price-to-earnings ratio of -1.37 and a beta of 0.55.

Contango Ore Company Profile

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.