Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Down 10.3% in August

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 425,800 shares, a drop of 10.3% from the August 15th total of 474,900 shares. Based on an average daily trading volume, of 79,800 shares, the short-interest ratio is presently 5.3 days. Currently, 5.9% of the company’s stock are short sold.

Insider Buying and Selling at Contango Ore

In related news, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $21.66, for a total value of $29,782.50. Following the completion of the sale, the chief financial officer now directly owns 26,092 shares in the company, valued at approximately $565,152.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Joseph S. Compofelice sold 7,460 shares of Contango Ore stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Aaron Clark sold 1,375 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $21.66, for a total value of $29,782.50. Following the transaction, the chief financial officer now directly owns 26,092 shares of the company’s stock, valued at approximately $565,152.72. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Contango Ore

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Contango Ore by 6.7% during 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 in the last quarter. Sprott Inc. lifted its position in shares of Contango Ore by 0.3% during the 4th quarter. Sprott Inc. now owns 480,234 shares of the company’s stock worth $8,697,000 after buying an additional 1,384 shares during the period. Mather Group LLC. acquired a new stake in Contango Ore in the 1st quarter valued at $28,000. Fore Capital LLC bought a new stake in Contango Ore in the second quarter valued at $201,000. Finally, Marshall Wace LLP acquired a new position in Contango Ore during the second quarter worth $185,000. Institutional investors and hedge funds own 19.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

Contango Ore Stock Down 0.7 %

Shares of CTGO traded down $0.15 during trading hours on Tuesday, reaching $20.12. 50,581 shares of the company traded hands, compared to its average volume of 52,294. Contango Ore has a 1-year low of $14.03 and a 1-year high of $25.32.

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

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.