Contango Ore (NYSEAMERICAN:CTGO) Given New $33.00 Price Target at Roth Mkm

Contango Ore (NYSEAMERICAN:CTGO) had its price target lowered by Roth Mkm from $38.00 to $33.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Fundamental Research set a $29.67 price objective on Contango Ore and gave the stock a buy rating in a research report on Tuesday, May 14th.

Contango Ore Stock Performance

Shares of NYSEAMERICAN CTGO traded down $0.25 during midday trading on Friday, hitting $18.09. The stock had a trading volume of 42,587 shares, compared to its average volume of 51,452. Contango Ore has a 1 year low of $14.03 and a 1 year high of $25.32.

Contango Ore (NYSEAMERICAN:CTGO) last released its earnings results on Tuesday, May 14th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($1.51) by $1.00. As a group, sell-side analysts forecast that Contango Ore will post 6.57 EPS for the current year.

Institutional Investors Weigh In On Contango Ore

A number of institutional investors have recently modified their holdings of CTGO. Sprott Inc. grew its stake in Contango Ore by 0.3% during the 4th quarter. Sprott Inc. now owns 480,234 shares of the company’s stock worth $8,697,000 after purchasing an additional 1,384 shares in the last quarter. Vanguard Group Inc. grew its stake in Contango Ore by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 172,461 shares of the company’s stock worth $3,423,000 after purchasing an additional 10,848 shares in the last quarter. Wittenberg Investment Management Inc. grew its stake in Contango Ore by 21.5% during the 1st quarter. Wittenberg Investment Management Inc. now owns 29,550 shares of the company’s stock worth $587,000 after purchasing an additional 5,227 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Contango Ore by 4.5% during 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. Finally, Fore Capital LLC acquired a new position in Contango Ore during the 2nd quarter worth $201,000. 19.14% of the stock is owned by institutional investors and hedge funds.

Contango Ore Company Profile

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.