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

Contango Ore, Inc. (NYSEAMERICAN:CTGO) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 567,700 shares, an increase of 9.4% from the December 31st total of 519,100 shares. Based on an average daily volume of 107,700 shares, the short-interest ratio is presently 5.3 days. Currently, 7.4% of the company’s stock are short sold.

Insider Buying and Selling

In related news, Director John B. Juneau bought 8,300 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $11.83 per share, for a total transaction of $98,189.00. Following the acquisition, the director now owns 319,411 shares in the company, valued at approximately $3,778,632.13. This represents a 2.67 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.80% of the company’s stock.

Institutional Investors Weigh In On Contango Ore

Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of Contango Ore during the second quarter worth about $185,000. Charles Schwab Investment Management Inc. increased its stake in Contango Ore by 27.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company’s stock worth $508,000 after acquiring an additional 5,630 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Contango Ore during the 3rd quarter worth approximately $57,000. State Street Corp lifted its holdings in shares of Contango Ore by 11.3% during the 3rd 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 in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Contango Ore during the third quarter worth about $273,000. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Contango Ore Stock Up 3.0 %

CTGO traded up $0.31 on Monday, hitting $10.68. 72,114 shares of the company traded hands, compared to its average volume of 80,653. Contango Ore has a 12-month low of $9.65 and a 12-month high of $25.32. The company has a market cap of $130.62 million, a PE ratio of -1.37 and a beta of 0.55.

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.