Contango Ore (NYSEAMERICAN:CTGO) Stock Price Crosses Above 50-Day Moving Average of $0.00

Contango Ore, Inc. (NYSEAMERICAN:CTGO)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.00 and traded as high as $20.13. Contango Ore shares last traded at $20.09, with a volume of 10,422 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on CTGO. Roth Mkm reiterated a “buy” rating and set a $38.00 price target on shares of Contango Ore in a report on Monday, March 25th. Cormark started coverage on shares of Contango Ore in a research note on Friday, March 22nd. They set a “buy” rating and a $27.50 price objective for the company. Finally, Fundamental Research set a $23.22 target price on Contango Ore and gave the stock a “buy” rating in a research note on Tuesday, February 13th.

Contango Ore Price Performance

The company has a debt-to-equity ratio of 2.98, a quick ratio of 4.02 and a current ratio of 4.02. The firm has a market capitalization of $193.47 million, a P/E ratio of -3.33 and a beta of 0.56.

Insider Buying and Selling at Contango Ore

In other news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $20.06, for a total transaction of $123,629.78. Following the sale, the chief executive officer now owns 493,733 shares in the company, valued at approximately $9,904,283.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Nieuwenhuyse Rick Van sold 6,163 shares of Contango Ore stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $20.06, for a total transaction of $123,629.78. Following the completion of the transaction, the chief executive officer now directly owns 493,733 shares in the company, valued at $9,904,283.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Shortz sold 3,635 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.64, for a total value of $75,026.40. Following the completion of the sale, the director now owns 99,947 shares in the company, valued at approximately $2,062,906.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,045 shares of company stock valued at $605,171. 17.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Contango Ore

Several institutional investors and hedge funds have recently modified their holdings of CTGO. Luminus Management LLC purchased a new position in Contango Ore in the 3rd quarter worth approximately $509,000. Wittenberg Investment Management Inc. raised its stake in shares of Contango Ore by 17.4% in the third quarter. Wittenberg Investment Management Inc. now owns 24,323 shares of the company’s stock worth $441,000 after purchasing an additional 3,600 shares during the last quarter. Mather Group LLC. bought a new position in shares of Contango Ore during the first quarter valued at $28,000. Sprott Inc. boosted 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 buying an additional 1,384 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 buying an additional 621 shares during the last quarter. 19.14% of the stock is currently owned by institutional investors.

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.