Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 9.9% in September

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 383,600 shares, a decrease of 9.9% from the August 31st total of 425,800 shares. Currently, 5.3% of the company’s stock are short sold. Based on an average trading volume of 81,500 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analysts Forecast Growth

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

Contango Ore Price Performance

Shares of NYSEAMERICAN CTGO traded up $0.01 during mid-day trading on Tuesday, hitting $19.27. 707 shares of the stock traded hands, compared to its average volume of 57,131. Contango Ore has a twelve month low of $14.03 and a twelve month high of $25.32.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Contango Ore

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Contango Ore by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares during the last quarter. Sprott Inc. raised its position in shares of Contango Ore by 0.3% in the 4th quarter. Sprott Inc. now owns 480,234 shares of the company’s stock worth $8,697,000 after acquiring an additional 1,384 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Contango Ore by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company’s stock worth $409,000 after acquiring an additional 966 shares in the last quarter. Rhumbline Advisers raised its position in shares of Contango Ore by 55.1% in the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock worth $173,000 after acquiring an additional 3,397 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Contango Ore in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 19.14% of the company’s stock.

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.