Contango Ore (NYSEAMERICAN:CTGO) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Shares of Contango Ore, Inc. (NYSEAMERICAN:CTGO - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.00 and traded as high as $23.84. Contango Ore shares last traded at $23.76, with a volume of 286,534 shares trading hands.

Analyst Ratings Changes

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

Contango Ore Trading Up 0.2 %

The company has a market capitalization of $290.84 million, a price-to-earnings ratio of -2.81 and a beta of 0.59.

Contango Ore (NYSEAMERICAN:CTGO - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.40) by ($0.50). As a group, analysts anticipate that Contango Ore, Inc. will post -2.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Aaron Clark sold 1,375 shares of the company's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $21.66, for a total value of $29,782.50. Following the transaction, the chief financial officer now directly owns 26,092 shares in the company, valued at approximately $565,152.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael Aaron Clark sold 1,375 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $21.66, for a total transaction of $29,782.50. Following the sale, the chief financial officer now owns 26,092 shares of the company's stock, valued at approximately $565,152.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph S. Compofelice sold 7,460 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $21.14, for a total transaction of $157,704.40. Following the completion of the transaction, the director now directly owns 148,498 shares of the company's stock, valued at approximately $3,139,247.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company's stock.

Institutional Trading of Contango Ore

A number of hedge funds and other institutional investors have recently bought and sold shares of CTGO. Mather Group LLC. acquired a new position in shares of Contango Ore in the 1st quarter valued at $28,000. Rhumbline Advisers lifted its position in Contango Ore by 55.1% in the second quarter. Rhumbline Advisers now owns 9,565 shares of the company's stock valued at $173,000 after acquiring an additional 3,397 shares during the last quarter. Marshall Wace LLP acquired a new position in Contango Ore in the second quarter valued at $185,000. Fore Capital LLC purchased a new position in shares of Contango Ore during the second quarter worth about $201,000. Finally, Bank of New York Mellon Corp increased its position in shares of 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 purchasing an additional 966 shares in the last quarter. 19.14% of the stock is currently owned by institutional investors and hedge funds.

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.