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

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

Contango Ore Stock Performance

Shares of Contango Ore stock traded up $0.62 on Friday, reaching $11.46. The company had a trading volume of 83,977 shares, compared to its average volume of 111,618. The stock has a market cap of $140.16 million, a price-to-earnings ratio of -1.47 and a beta of 0.54. Contango Ore has a 1 year low of $9.65 and a 1 year high of $25.32.

Analysts Set New Price Targets

Separately, Roth Mkm lifted their price objective on Contango Ore from $33.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, October 11th.

Insiders Place Their Bets

In other news, Director John B. Juneau purchased 8,300 shares of the stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $11.83 per share, with a total value of $98,189.00. Following the acquisition, the director now directly owns 319,411 shares of the company's stock, valued at $3,778,632.13. This represents a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 17.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in Contango Ore in the third quarter worth approximately $40,000. Quantbot Technologies LP bought a new position in shares of Contango Ore during the 3rd quarter worth $57,000. JPMorgan Chase & Co. increased its stake in shares of Contango Ore by 32.0% during the third quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company's stock valued at $90,000 after buying an additional 1,129 shares during the period. Rhumbline Advisers raised its holdings in shares of Contango Ore by 55.1% in the second quarter. Rhumbline Advisers now owns 9,565 shares of the company's stock valued at $173,000 after acquiring an additional 3,397 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Contango Ore in the second quarter worth about $185,000. 19.14% of the stock is currently owned by institutional investors.

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.