Short Interest in Contango Ore, Inc. (NYSEAMERICAN:CTGO) Decreases By 9.5%

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 452,900 shares, a drop of 9.5% from the October 15th total of 500,400 shares. Based on an average daily volume of 75,400 shares, the days-to-cover ratio is currently 6.0 days. Currently, 6.2% of the company’s shares are sold short.

Insider Buying and Selling at Contango Ore

In other Contango Ore news, Director Joseph S. Compofelice sold 7,460 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 148,498 shares in the company, valued at $3,139,247.72. The trade was a 4.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Aaron Clark sold 1,375 shares of the stock in a transaction on Monday, August 26th. The stock was 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 directly owns 26,092 shares of the company’s stock, valued at $565,152.72. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Contango Ore

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Contango Ore by 6.7% in the first quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock valued at $3,423,000 after purchasing an additional 10,848 shares during 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 valued at $409,000 after purchasing an additional 966 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Contango Ore by 55.1% during the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company’s stock valued at $173,000 after buying an additional 3,397 shares during the last quarter. Fore Capital LLC acquired a new stake in shares of Contango Ore during the second quarter worth approximately $201,000. Finally, Marshall Wace LLP bought a new stake in shares of Contango Ore in the second quarter worth $185,000. 19.14% of the stock is owned by institutional investors and hedge funds.

Contango Ore Stock Up 0.2 %

NYSEAMERICAN:CTGO traded up $0.03 during trading hours on Monday, hitting $18.39. The stock had a trading volume of 76,960 shares, compared to its average volume of 58,979. The company has a market capitalization of $224.73 million, a price-to-earnings ratio of -2.38 and a beta of 0.57. Contango Ore has a 1-year low of $14.03 and a 1-year high of $25.32.

Wall Street Analyst Weigh In

Separately, Roth Mkm increased their price target on Contango Ore from $33.00 to $37.00 and gave the company a “buy” rating in a report on Friday, October 11th.

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.