Contango Ore (NYSEAMERICAN:CTGO) Given a $29.67 Price Target at Fundamental Research

Contango Ore (NYSEAMERICAN:CTGO - Get Free Report) has been assigned a $29.67 price objective by equities researchers at Fundamental Research in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Fundamental Research's target price would indicate a potential upside of 203.68% from the company's previous close.

Contango Ore Stock Performance

CTGO stock traded down $0.43 during midday trading on Wednesday, reaching $9.77. The company's stock had a trading volume of 136,960 shares, compared to its average volume of 84,490. Contango Ore has a 52 week low of $9.65 and a 52 week high of $25.32. The stock has a market cap of $119.49 million, a PE ratio of -1.25 and a beta of 0.55.

Insider Buying and Selling

In other news, Director John B. Juneau bought 8,300 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price 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 approximately $3,778,632.13. This trade represents a 2.67 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Contango Ore

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. boosted its stake in Contango Ore by 207.2% in the 3rd quarter. Franklin Resources Inc. now owns 224,709 shares of the company's stock worth $4,393,000 after purchasing an additional 151,559 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Contango Ore by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 222,074 shares of the company's stock valued at $2,226,000 after purchasing an additional 2,378 shares in the last quarter. State Street Corp boosted its position in shares of Contango Ore by 11.3% during the third quarter. State Street Corp now owns 156,606 shares of the company's stock worth $3,016,000 after buying an additional 15,859 shares during the period. Northern Trust Corp grew its holdings in shares of Contango Ore by 2.9% during the fourth quarter. Northern Trust Corp now owns 86,882 shares of the company's stock worth $871,000 after buying an additional 2,482 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Contango Ore by 465.2% in the 4th quarter. Marshall Wace LLP now owns 70,438 shares of the company's stock valued at $706,000 after buying an additional 57,976 shares during the last quarter. Institutional investors own 19.14% of the company's stock.

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.