Contango Ore (NYSEAMERICAN:CTGO) Earns “Buy” Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Contango Ore (NYSEAMERICAN:CTGO) in a research report released on Monday morning, Benzinga reports. Roth Mkm currently has a $38.00 target price on the stock.

Several other research analysts also recently commented on CTGO. Cormark started coverage on shares of Contango Ore in a research report on Friday, March 22nd. They set a buy rating and a $27.50 price objective for the company. Fundamental Research set a $23.22 price objective on Contango Ore and gave the company a buy rating in a research note on Tuesday, February 13th.

Contango Ore Price Performance

CTGO opened at $19.46 on Monday. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 2.98. Contango Ore has a 52-week low of $14.03 and a 52-week high of $33.67. The firm has a market cap of $186.82 million, a PE ratio of -3.22 and a beta of 0.54.

Insiders Place Their Bets

In other Contango Ore news, Director Richard Shortz sold 3,635 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $20.64, for a total value of $75,026.40. Following the completion of the transaction, the director now owns 99,947 shares of the company’s stock, valued at approximately $2,062,906.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph S. Compofelice sold 5,826 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $22.00, for a total value of $128,172.00. Following the sale, the director now owns 163,878 shares of the company’s stock, valued at $3,605,316. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard Shortz sold 3,635 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $20.64, for a total value of $75,026.40. Following the completion of the sale, the director now owns 99,947 shares of the company’s stock, valued at $2,062,906.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,451 shares of company stock valued at $323,004. 17.80% of the stock is currently owned by insiders.

Institutional Trading of Contango Ore

Several institutional investors have recently added to or reduced their stakes in CTGO. Citigroup Inc. lifted its stake in shares of Contango Ore by 99.1% in the 2nd quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock valued at $28,000 after purchasing an additional 552 shares during the period. UBS Group AG lifted its stake in Contango Ore by 5,168.2% in the third quarter. UBS Group AG now owns 1,159 shares of the company’s stock valued at $35,000 after buying an additional 1,137 shares during the period. California State Teachers Retirement System bought a new position in shares of Contango Ore during the 2nd quarter worth approximately $32,000. Wells Fargo & Company MN grew its position in shares of Contango Ore by 7,310.0% during the 2nd quarter. Wells Fargo & Company MN now owns 1,482 shares of the company’s stock worth $38,000 after buying an additional 1,462 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Contango Ore by 576.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,970 shares of the company’s stock valued at $76,000 after acquiring an additional 2,531 shares in the last quarter. 19.14% of the stock is currently owned by institutional investors.

About Contango Ore

Contango Ore, Inc, an exploration stage company, engages in the exploration of gold and associated minerals in the United States. It also explores for copper and silver deposits. The company, through its subsidiaries, leases approximately 675,000 acres from the Tetlin Tribal Council and holds approximately 13,000 State of Alaska mining claims for exploration and development; leases mineral rights approximately 8,600 acres of State of Alaska and patented mining claims for exploration from Alaska Hard Rock, Inc; and owns 100% interest in the mineral rights to approximately 154,000 acres of State of Alaska mining claims for exploration located north and northwest of the Manh Choh Project.