Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Up 9.4% in January

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 567,700 shares, a growth of 9.4% from the December 31st total of 519,100 shares. Approximately 7.4% of the shares of the company are short sold. Based on an average daily volume of 107,700 shares, the short-interest ratio is currently 5.3 days.

Contango Ore Price Performance

NYSEAMERICAN CTGO opened at $10.37 on Friday. Contango Ore has a 52-week low of $9.65 and a 52-week high of $25.32.

Insiders Place Their Bets

In other news, Director John B. Juneau bought 8,300 shares of Contango Ore stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $11.83 per share, with a total value of $98,189.00. Following the completion of the transaction, the director now directly owns 319,411 shares in the company, valued at $3,778,632.13. This trade represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Contango Ore in the third quarter valued at $40,000. Quantbot Technologies LP bought a new position in shares of Contango Ore in the 3rd quarter valued at about $57,000. JPMorgan Chase & Co. increased its position in shares of Contango Ore by 32.0% in the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company’s stock valued at $90,000 after acquiring an additional 1,129 shares during the last quarter. Marshall Wace LLP bought a new stake in Contango Ore during the second quarter worth about $185,000. Finally, Barclays PLC boosted its position in Contango Ore by 372.7% during the third quarter. Barclays PLC now owns 13,987 shares of the company’s stock valued at $270,000 after purchasing an additional 11,028 shares during the last quarter. 19.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Roth Mkm increased their target price on shares of Contango Ore from $33.00 to $37.00 and gave the stock a “buy” rating in a research 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.