Contango Ore, Inc. (NYSEAMERICAN:CTGO) Short Interest Update

Contango Ore, Inc. (NYSEAMERICAN:CTGO - Get Free Report) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 519,100 shares, a growth of 21.1% from the November 30th total of 428,700 shares. Based on an average daily volume of 102,500 shares, the short-interest ratio is presently 5.1 days. Currently, 6.8% of the company's stock are short sold.

Insider Activity

In other news, Director John B. Juneau bought 8,300 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $11.83 per share, for a total transaction of $98,189.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Contango Ore

Institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new stake in Contango Ore during the third quarter valued at $40,000. Quantbot Technologies LP bought a new position in shares of Contango Ore in the 3rd quarter worth about $57,000. JPMorgan Chase & Co. lifted its stake in shares of Contango Ore by 32.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,657 shares of the company's stock valued at $90,000 after purchasing an additional 1,129 shares during the period. Rhumbline Advisers boosted its position in shares of Contango Ore by 55.1% during the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company's stock valued at $173,000 after purchasing an additional 3,397 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in Contango Ore during the second quarter worth approximately $185,000. Institutional investors own 19.14% of the company's stock.

Contango Ore Price Performance

Shares of Contango Ore stock traded down $0.08 on Tuesday, hitting $10.02. The stock had a trading volume of 138,681 shares, compared to its average volume of 69,726. Contango Ore has a twelve month low of $9.65 and a twelve month high of $25.32. The company has a market capitalization of $122.54 million, a P/E ratio of -1.28 and a beta of 0.48.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm lifted their price objective 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.

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.

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