Contango Ore, Inc. (NYSEAMERICAN:CTGO) Sees Large Increase in Short Interest

Contango Ore, Inc. (NYSEAMERICAN:CTGO - Get Free Report) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 722,600 shares, a growth of 8.0% from the January 15th total of 669,100 shares. Approximately 9.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 115,300 shares, the short-interest ratio is presently 6.3 days.

Insider Buying and Selling

In other news, Director John B. Juneau acquired 8,300 shares of Contango Ore stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $11.83 per share, with a total value of $98,189.00. Following the completion of the purchase, the director now 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 17.80% of the stock is currently owned by insiders.

Institutional Trading of Contango Ore

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of Contango Ore by 27.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company's stock worth $508,000 after purchasing an additional 5,630 shares in the last quarter. Quantbot Technologies LP bought a new position in Contango Ore during the third quarter valued at approximately $57,000. State Street Corp lifted its stake in Contango Ore by 11.3% in 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 last quarter. Jane Street Group LLC bought a new stake in Contango Ore in the third quarter worth approximately $273,000. Finally, Barclays PLC increased its stake in shares of Contango Ore by 372.7% during the 3rd quarter. Barclays PLC now owns 13,987 shares of the company's stock worth $270,000 after purchasing an additional 11,028 shares during the last quarter. Institutional investors and hedge funds own 19.14% of the company's stock.

Contango Ore Stock Down 4.2 %

CTGO stock traded down $0.43 during midday trading on Friday, reaching $9.77. The company had a trading volume of 136,709 shares, compared to its average volume of 87,832. Contango Ore has a 1 year low of $9.65 and a 1 year high of $25.32. The company has a market cap of $119.49 million, a price-to-earnings ratio of -1.25 and a beta of 0.55.

Wall Street Analyst Weigh In

Separately, Fundamental Research set a $29.67 price objective on Contango Ore and gave the stock a "buy" rating in a research report on Wednesday.

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.