Contango Ore (CTGO) Projected to Post Quarterly Earnings on Wednesday

Contango Ore (NYSEAMERICAN:CTGO) is projected to post its quarterly earnings results on Wednesday, March 12th. Analysts expect Contango Ore to post earnings of ($0.21) per share and revenue of $5.67 million for the quarter.

Contango Ore Trading Down 7.5 %

Shares of Contango Ore stock opened at $9.02 on Tuesday. The company has a market cap of $110.31 million, a PE ratio of -1.15 and a beta of 0.55. Contango Ore has a 12-month low of $8.85 and a 12-month high of $25.32. The business’s 50 day moving average is $10.34.

Insider Activity at Contango Ore

In other news, Director John B. Juneau acquired 8,300 shares of Contango Ore stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the completion of the purchase, the director now directly owns 319,411 shares of the company’s stock, valued at approximately $3,778,632.13. This represents a 2.67 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 17.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Contango Ore

A hedge fund recently raised its stake in Contango Ore stock. Bank of America Corp DE boosted its holdings in Contango Ore, Inc. (NYSEAMERICAN:CTGO) by 40.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,262 shares of the company’s stock after buying an additional 2,936 shares during the quarter. Bank of America Corp DE owned approximately 0.08% of Contango Ore worth $103,000 at the end of the most recent reporting period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a $29.67 price objective on Contango Ore and gave the company a “buy” rating in a research report on Wednesday, February 19th.

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.