Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Up 8.0% in January

Contango Ore, Inc. (NYSEAMERICAN:CTGO) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 722,600 shares, an increase of 8.0% from the January 15th total of 669,100 shares. Based on an average daily volume of 115,300 shares, the days-to-cover ratio is currently 6.3 days. Currently, 9.3% of the company’s shares are sold short.

Insider Buying and Selling at Contango Ore

In other Contango Ore news, Director John B. Juneau bought 8,300 shares of Contango Ore stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at $3,778,632.13. The trade was a 2.67 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 17.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Contango Ore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its position in shares of Contango Ore by 93.6% in the 4th quarter. Deutsche Bank AG now owns 8,023 shares of the company’s stock worth $80,000 after purchasing an additional 3,879 shares during the last quarter. Bridgeway Capital Management LLC bought a new stake in shares of Contango Ore in the 4th quarter worth about $200,000. Bank of America Corp DE increased its position in shares of Contango Ore by 40.1% in the 4th quarter. Bank of America Corp DE now owns 10,262 shares of the company’s stock worth $103,000 after purchasing an additional 2,936 shares during the last quarter. Raffles Associates LP increased its position in shares of Contango Ore by 281.5% in the 4th quarter. Raffles Associates LP now owns 46,554 shares of the company’s stock worth $466,000 after purchasing an additional 34,351 shares during the last quarter. Finally, Northern Trust Corp increased its position 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 purchasing an additional 2,482 shares during the last quarter. Hedge funds and other institutional investors own 19.14% of the company’s stock.

Contango Ore Price Performance

Contango Ore stock traded up $0.54 during midday trading on Tuesday, hitting $10.80. 30,570 shares of the stock were exchanged, compared to its average volume of 82,263. Contango Ore has a 1 year low of $9.65 and a 1 year high of $25.32. The company has a market capitalization of $132.08 million, a price-to-earnings ratio of -1.37 and a beta of 0.55.

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.