Contango Ore (NYSEAMERICAN:CTGO) Stock Crosses Above Fifty Day Moving Average - Here's Why

Contango Ore, Inc. (NYSEAMERICAN:CTGO - Get Free Report)'s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $0.00 and traded as high as $18.48. Contango Ore shares last traded at $18.36, with a volume of 60,564 shares changing hands.

Analyst Ratings Changes

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

Contango Ore Price Performance

The stock has a market capitalization of $224.36 million, a PE ratio of -2.17 and a beta of 0.57.

Contango Ore (NYSEAMERICAN:CTGO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.50). On average, equities research analysts forecast that Contango Ore, Inc. will post -2.98 EPS for the current year.

Insider Buying and Selling at Contango Ore

In other news, Director Joseph S. Compofelice sold 7,460 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $21.14, for a total value of $157,704.40. Following the completion of the sale, the director now owns 148,498 shares of the company's stock, valued at approximately $3,139,247.72. This represents a 4.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Aaron Clark sold 1,375 shares of the business's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $21.66, for a total transaction of $29,782.50. Following the transaction, the chief financial officer now owns 26,092 shares in the company, valued at $565,152.72. This represents a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.80% of the company's stock.

Institutional Investors Weigh In On Contango Ore

Several hedge funds have recently added to or reduced their stakes in CTGO. Vanguard Group Inc. raised its holdings in Contango Ore by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company's stock valued at $3,423,000 after acquiring an additional 10,848 shares during the period. Bank of New York Mellon Corp raised its stake in Contango Ore by 4.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company's stock worth $409,000 after purchasing an additional 966 shares in the last quarter. Rhumbline Advisers raised its position in shares of Contango Ore by 55.1% in the 2nd quarter. Rhumbline Advisers now owns 9,565 shares of the company's stock valued at $173,000 after buying an additional 3,397 shares in the last quarter. Fore Capital LLC acquired a new position in shares of Contango Ore during the 2nd quarter worth $201,000. Finally, Marshall Wace LLP bought a new stake in shares of Contango Ore during the 2nd quarter worth $185,000. Institutional investors and hedge funds own 19.14% of the company's stock.

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.