Franklin Resources Inc. Has $4.39 Million Stock Position in Contango Ore, Inc. (NYSEAMERICAN:CTGO)

Franklin Resources Inc. boosted its holdings in shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO - Free Report) by 207.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 224,709 shares of the company's stock after buying an additional 151,559 shares during the quarter. Franklin Resources Inc. owned 1.84% of Contango Ore worth $4,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in Contango Ore by 27.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 26,389 shares of the company's stock valued at $508,000 after acquiring an additional 5,630 shares during the period. Quantbot Technologies LP purchased a new position in shares of Contango Ore during the 3rd quarter valued at approximately $57,000. Marshall Wace LLP acquired a new position in shares of Contango Ore in the 2nd quarter valued at $185,000. Bank of New York Mellon Corp boosted its holdings in Contango Ore by 4.5% during the second quarter. Bank of New York Mellon Corp now owns 22,652 shares of the company's stock worth $409,000 after buying an additional 966 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Contango Ore by 55.1% during the second quarter. Rhumbline Advisers now owns 9,565 shares of the company's stock valued at $173,000 after buying an additional 3,397 shares during the period. 19.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Contango Ore news, Director John B. Juneau acquired 8,300 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $11.83 per share, for a total transaction of $98,189.00. Following the completion of the purchase, the director now directly owns 319,411 shares in the company, valued at $3,778,632.13. The trade was a 2.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 17.80% of the stock is currently owned by company insiders.

Contango Ore Stock Performance

NYSEAMERICAN:CTGO traded up $0.07 during trading hours on Tuesday, reaching $10.37. 83,433 shares of the company traded hands, compared to its average volume of 68,859. The stock has a market cap of $126.83 million, a PE ratio of -1.33 and a beta of 0.48. Contango Ore, Inc. has a 1-year low of $10.08 and a 1-year high of $25.32.

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.