Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Acquires $99,800.00 in Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) CEO Nieuwenhuyse Rick Van purchased 10,000 shares of Contango Ore stock in a transaction on Tuesday, March 25th. The shares were acquired at an average cost of $9.98 per share, for a total transaction of $99,800.00. Following the completion of the transaction, the chief executive officer now owns 545,869 shares of the company’s stock, valued at $5,447,772.62. This represents a 1.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Contango Ore Stock Performance

Shares of NYSEAMERICAN:CTGO traded up $0.12 during mid-day trading on Wednesday, hitting $9.92. 120,761 shares of the company traded hands, compared to its average volume of 86,624. The stock’s 50 day moving average price is $10.22. The firm has a market capitalization of $121.32 million, a price-to-earnings ratio of -1.27 and a beta of 0.55. Contango Ore, Inc. has a 52-week low of $8.85 and a 52-week high of $25.32.

Analysts Set New Price Targets

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

Institutional Trading of Contango Ore

A number of hedge funds and other institutional investors have recently modified their holdings of CTGO. Franklin Resources Inc. boosted its holdings in Contango Ore by 207.2% in the third quarter. Franklin Resources Inc. now owns 224,709 shares of the company’s stock worth $4,393,000 after purchasing an additional 151,559 shares during the period. Geode Capital Management LLC lifted its holdings in Contango Ore by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 222,074 shares of the company’s stock worth $2,226,000 after purchasing an additional 2,378 shares during the period. State Street Corp increased its stake in shares of Contango Ore by 11.3% during the third quarter. State Street Corp now owns 156,606 shares of the company’s stock valued at $3,016,000 after acquiring an additional 15,859 shares during the period. Northern Trust Corp raised its stake in shares of Contango Ore by 2.9% in the 4th quarter. Northern Trust Corp now owns 86,882 shares of the company’s stock worth $871,000 after buying an additional 2,482 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Contango Ore by 465.2% during the 4th quarter. Marshall Wace LLP now owns 70,438 shares of the company’s stock valued at $706,000 after purchasing an additional 57,976 shares in the last quarter. 19.14% of the stock is owned by hedge funds and other institutional investors.

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.