Insider Selling: Contango Ore, Inc. (NYSEAMERICAN:CTGO) Director Sells $75,026.40 in Stock

Contango Ore, Inc. (NYSEAMERICAN:CTGO) Director Richard Shortz sold 3,635 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $20.64, for a total transaction of $75,026.40. Following the transaction, the director now owns 99,947 shares of the company’s stock, valued at approximately $2,062,906.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Contango Ore Stock Up 1.8 %

CTGO opened at $19.81 on Friday. The company has a current ratio of 4.02, a quick ratio of 4.02 and a debt-to-equity ratio of 2.98. The firm has a market cap of $190.18 million, a price-to-earnings ratio of -3.28 and a beta of 0.54. Contango Ore, Inc. has a 1 year low of $14.03 and a 1 year high of $33.67.

Analyst Ratings Changes

CTGO has been the subject of several analyst reports. Roth Mkm restated a “buy” rating and set a $38.00 price target on shares of Contango Ore in a report on Monday. 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. Finally, Fundamental Research set a $23.22 price objective on shares of Contango Ore and gave the stock a “buy” rating in a research report on Tuesday, February 13th.

Hedge Funds Weigh In On Contango Ore

A number of hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its stake in shares of Contango Ore by 99.1% during the 2nd quarter. Citigroup Inc. now owns 1,109 shares of the company’s stock worth $28,000 after purchasing an additional 552 shares during the period. California State Teachers Retirement System bought a new stake in shares of Contango Ore during the 2nd quarter worth $32,000. UBS Group AG raised its stake in shares of Contango Ore by 5,168.2% during the 3rd quarter. UBS Group AG now owns 1,159 shares of the company’s stock worth $35,000 after purchasing an additional 1,137 shares during the period. Wells Fargo & Company MN raised its stake 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 purchasing an additional 1,462 shares during the period. Finally, American International Group Inc. raised its stake in shares of Contango Ore by 97.0% during the 4th quarter. American International Group Inc. now owns 3,871 shares of the company’s stock worth $70,000 after purchasing an additional 1,906 shares during the period. 19.14% of the stock is owned by hedge funds and other 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.