Contango Ore, Inc. (NYSEAMERICAN:CTGO – Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 188,600 shares, a decrease of 6.6% from the March 15th total of 201,900 shares. Based on an average daily trading volume, of 24,400 shares, the short-interest ratio is presently 7.7 days. Currently, 3.7% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on CTGO. Roth Mkm reissued a “buy” rating and issued a $38.00 price target on shares of Contango Ore in a research note on Monday, March 25th. Fundamental Research set a $23.22 price objective on shares of Contango Ore and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Cormark began coverage on shares of Contango Ore in a research report on Friday, March 22nd. They set a “buy” rating and a $27.50 price objective for the company.
View Our Latest Research Report on Contango Ore
Insider Buying and Selling
Institutional Investors Weigh In On Contango Ore
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in shares of Contango Ore by 99.1% during the second quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock valued at $28,000 after acquiring an additional 552 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Contango Ore by 5.9% during the third quarter. Bank of New York Mellon Corp now owns 11,190 shares of the company’s stock valued at $203,000 after acquiring an additional 621 shares during the last quarter. UBS Group AG increased its position in shares of Contango Ore by 87.6% during the fourth quarter. UBS Group AG now owns 2,174 shares of the company’s stock valued at $48,000 after acquiring an additional 1,015 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Contango Ore during the second quarter valued at about $32,000. Finally, Sprott Inc. increased its position in shares of Contango Ore by 0.3% during the fourth quarter. Sprott Inc. now owns 480,234 shares of the company’s stock valued at $8,697,000 after acquiring an additional 1,384 shares during the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.
Contango Ore Stock Performance
Contango Ore stock opened at $19.83 on Thursday. Contango Ore has a 12-month low of $14.03 and a 12-month high of $33.67. The stock has a market cap of $190.37 million, a P/E ratio of -3.28 and a beta of 0.56. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 2.98.
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.
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