Contango ORE, Inc. (NYSEAMERICAN:CTGO) Short Interest Update

Contango ORE, Inc. (NYSEAMERICAN:CTGO) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 574,000 shares, agrowthof23.6% from the July 15th total of 464,500 shares. Currently,6.9% of the company’s shares are short sold. Based on an average daily volume of 96,200 shares, the days-to-cover ratio is presently 6.0 days. Based on an average daily volume of 96,200 shares, the days-to-cover ratio is presently 6.0 days. Currently,6.9% of the company’s shares are short sold.

Contango ORE Stock Performance

NYSEAMERICAN:CTGO opened at $20.84 on Friday. The business’s fifty day moving average is $20.29 and its 200 day moving average is $15.16. The firm has a market cap of $264.04 million, a price-to-earnings ratio of -77.18 and a beta of -0.16. Contango ORE has a 52-week low of $8.85 and a 52-week high of $23.95. The company has a debt-to-equity ratio of 20.71, a quick ratio of 0.46 and a current ratio of 0.47.

Insider Buying and Selling

In other news, CFO Michael Aaron Clark sold 2,822 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $21.66, for a total transaction of $61,124.52. Following the completion of the sale, the chief financial officer owned 59,970 shares in the company, valued at $1,298,950.20. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard Shortz sold 33,150 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $21.08, for a total value of $698,802.00. Following the completion of the sale, the director directly owned 84,050 shares of the company’s stock, valued at approximately $1,771,774. This trade represents a 28.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.40% of the company’s stock.

Institutional Trading of Contango ORE

A number of hedge funds have recently bought and sold shares of CTGO. Marshall Wace LLP grew its holdings in shares of Contango ORE by 465.2% in the fourth quarter. Marshall Wace LLP now owns 70,438 shares of the company’s stock worth $706,000 after purchasing an additional 57,976 shares during the last quarter. Raffles Associates LP boosted 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 valued at $466,000 after acquiring an additional 34,351 shares in the last quarter. Jane Street Group LLC bought a new position in Contango ORE in the second quarter worth $630,000. XTX Topco Ltd bought a new stake in Contango ORE during the second quarter worth about $593,000. Finally, Gabelli Funds LLC lifted its holdings in shares of Contango ORE by 18.8% during the first quarter. Gabelli Funds LLC now owns 126,479 shares of the company’s stock valued at $1,291,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 19.14% of the company’s stock.

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.